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Asian PS makers seek price hikes after holidays

  • 19/02/2016 (10:02)
Players in Asia have started to return from holidays this week following Chinese New Year and Asian PS producers are seeking price increases citing rising spot styrene costs compared to pre-holiday levels. In fact, styrene costs in Asia firmed up by $45/ton on FOB South Korea basis from early February. Buying interest has partially improved, according to suppliers, although most expectations focus on next week for a demand up-tick.

A Taiwanese producer lifted their prices by $20/ton for GPPS and $10/ton for HIPS to China and Southeast Asia after Lunar New Year holidays due to the firmer styrene market. “Demand from China remains calm since manufacturers are just returning to their desks. Buying interest from Southeast Asia demonstrates no considerable change from pre-holiday conditions with players keeping their wait and see attitude. Starting from next week, we expect to receive better demand,” a producer source explained. Meanwhile, the producer resumed operations at its HIPS line after a turnaround and expects to reach smooth operations next week. They are running their GPPS line at 90% capacity.

An agent of another Taiwanese PS producer also noted, “Our supplier increased their offers by $10/ton to Southeast Asian countries. We expect to see a better outlook next week when more players will be back from the holiday.”



Source: ChemOrbis Price Wizard

A converter in China reported that PS prices are up by $20-30/ton. “We are covered for now since we purchased enough material for a month right after holidays. We are still cautious about the market outlook considering that the Chinese economy is still not stable. This may limit the upward momentum even if spot styrene costs continue to soar. Nonetheless, some styrene units will be down starting from March which may lend extra support to the styrene market,” opined the buyer.

A source from a Southeast Asian producer who raised their PS prices said, “We are offering limited quotas at the present in anticipation of additional gains in styrene and downstream PS prices next week. Overall demand has improved ever since we came back from the holiday.” A trader in Malaysia confirmed, “Prices are up from the supplier on slightly increased trade compared to the pre-holiday period.”

Meanwhile, a trader in Turkey also confirmed, “We were offered $50/ton increases from South Korean PS producers with respect to last week.”
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