Asian PS players are open to discounts in SEA and China
A Taiwanese producer commented, “We kept our offers mostly unchanged compared to last week. Players are sourcing only on an as needed basis and have no plan to build extra stocks.” But, a company source admitted seeing limited orders.
Another Taiwanese producer reported revising its offers slightly down due to lower styrene costs. “If styrene prices remain soft in August during the maintenance shutdowns of styrene and PS plants across the region, PS prices will also track a soft trend,” said a producer source.
A Singaporean producer rolled over its PS offers from last week and added, “Our prices are not deemed as acceptable in the market so we are open for negotiation on our offers.”
Import prices were reported at $1120-1220/ton for GPPS and $1210-1250/ton for HIPS, CIF SEA, cash basis. A done deal was reported for Chinese material in Vietnam, which caused the low end of the GPPS range to come $60/ton lower. The done deal for competitive Chinese GPPS reflects the weakness of demand in the Chinese market.
Import GPPS prices were reported stable on the week at $1180-1200/ton CIF/CFR China/ Hong Kong, cash equivalent basis while HIPS offers stood at $1230-1270/ton with the same terms.
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