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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