Asian PS producers revise offers given firmer styrene
A source from a Southeast Asian producer reported that they implemented increases on their PS offers to regional markets due to higher styrene costs. The producer raised their offers by $20/ton for GPPS and $10/ton for HIPS, bringing their new prices to $1110/ton and to $1140/ton, respectively, on a CIF SEA, cash basis.
“We lifted our offers due to higher styrene costs as well as several plant shutdowns in China. We are not feeling any sales pressure for GPPS as we have recently switched to HIPS production at our plant,” the source commented.
Meanwhile, a source from a Taiwanese producer also reported that they increased their HIPS prices by $20/ton while maintaining their GPPS prices. The producer’s PS prices currently stand at $1050-1060/ton for GPPS and at $1100/ton for HIPS, all on a CIF SEA/CFR China, cash basis.
The source stated, “We lifted our HIPS prices as we shut our HIPS line yesterday. Meanwhile, several Asian producers have recently issued increases on their PS prices due to firmer styrene costs. We believe that PS prices will witness upward movements after the Chinese New Year holidays.”
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