Asian PS producers reduce run rates
A source from a Southeast Asian producer reported, “We cut our run rates to around 90% for around ten days in July due to thin demand as well as rising stock levels. We are willing to give $20-30/ton discounts to buyers who place serious bids.”
A source from another Southeast Asian producer commented, “We are only able to conclude deals with our regular customers. Apart from that, demand is quite slow. We will shut our plant for maintenance this week and resume operations next week. However, this will not affect our supplies.”
A source from a Taiwanese PS producer also stated that they have reduced their production rates to around 80% in the face of disappointing demand.
Players in Asia are stating that trading activities in the manufacturing sector are being weighed down by slower than expected growth rates across the global economy. Hence, PS demand remains stagnant.
In Southeast Asia, meanwhile, overall import PS prices are currently reported at $1390-1470/ton for GPPS injection and at $1455-1520/ton for HIPS injection, all on a CIF SEA, cash equivalent basis.
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