ICIS initiates spot coverage of Bangladesh polystyrene market

Abstract

SINGAPORE (ICIS)--ICIS has launched two new spot assessments for polystyrene (PS) to capture growing import trade into Bangladesh.

SINGAPORE (ICIS)--ICIS has launched two new                    spot assessments for polystyrene (PS) to                    capture growing import trade into Bangladesh.

The two assessments are on a CFR (cost and                    freight) basis for high impact polystyrene                    (HIPS) and general purpose polystyrene (GPPS).

Bangladesh is dependent on imports in the                    absence of local PS production.

The quotes went live on 3 January 2020 and are                    carried in the Polystyrene (Middle East/South                    Asia) report.

The new quotes are an addition to the 13 other                    existing spot assessments that ICIS has for PS                    in Asia and the Middle East.

“The launch of the CFR Bangladesh quote is very                    useful for us because it is a price reference                    into a fresh import market,” said a sales                    manager with Idemitsu PS Malaysia.

Bangladesh is among the five fastest-growing                    economies of the world.

Real GDP growth on an annual basis is forecast                    at 7.4% in 2020 versus 7.3% in 2019, according                    to projections from a World Bank report on the                    country’s development.

Aside from PS, ICIS covers other styrenics                    resins including                    acrylonitrile-butadiene-styrene (ABS),                    expandable polystyrene (EPS) and styrene                    acrylonitrile (SAN) as well as the styrene                    monomer (SM) market.

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