Moderate demand conditions keep PS prices almost unmoved in Mumbai market – 10 Jan 2014

GPPS and HIPS prices in the Mumbai market have not undergone any major fluctuation, amid uncertainty in price outlook, and moderate demand conditions prevailed in the market, as traders said. Discussions with several buyers of the GPPS and HIPS materials revealed that they adopted the need-based buying strategy in view of the uncertain market conditions. A Mumbai-based trader told Indianpetrochem in the context of the prevailing PS trading conditions," Moderate GPPS and HIPS trading activities are going on in the market, the price outlook is, however, uncertain." 
 

A HIPS sheet manufacturer in Mumbai said," With uncertainty in PS prices in the coming days, we are buying the raw material as per our requirement." He further added, "Demand for our end-products are strong, so we have to keep our production running."
 

Most buyers were also learnt to prefer the domestic markets for their GPPS and HIPS purchases, and import affinity were learnt to be low.
 

In the Mumbai market today, GPPS and HIPS were sold at around Rs 141-142 a kg and Rs 146-148 a kg respectively.
 

Demand in the domestic markets are also expected remain firm as international markets are becoming costlier.