Another Taiwanese producer lowers HIPS prices to SEA
The producer’s HIPS prices currently stand at $1250-1280/ton on a CIF SEA, cash basis while they offer ABS at $1300-1350/ton with the same terms. When compared to last week, their new HIPS offers indicate decreases of $20-50/ton. The source stated that they are open to negotiations on their new offer levels.
Meanwhile, another Taiwanese producer implemented decreases on their PS prices at the start of the week, lowering their offers by $20-30/ton for both GPPS and HIPS to China and Southeast Asia in the face of weakening styrene.
In Southeast Asia, import PS prices are currently quoted at $1220-1240/ton for GPPS and at $1250-1300/ton for HIPS, all on a CIF SEA, cash equivalent basis. Meanwhile, import ABS prices stand at $1300-1350/ton with the same terms.
In Asia, spot styrene prices decreased by around $45/ton on a week over week basis to be currently quoted at around $1010/ton on an FOB South Korea basis. When compared to initial April levels, styrene costs are down by around $90/ton.
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