Asian producers continue to raise ABS, PS offers to the region

Asian producers continue to implement further increase on their PS and ABS offers to the region due to availability issues of major ABS suppliers as well as firm styrene prices during the past week.

A trader based in Hong Kong reported that their Taiwanese supplier increased its offers to China by $70/ton for ABS and by $40/ton for PS from last week. The producer’s current offers are standing at $1380/ton for GPPS injection, at $1440/ton for HIPS injection and $1780/ton for ABS injection, all on CIF China/Hong Kong, cash basis.

“ABS allocation is still around 50% while PS is unlimited,” a source from the producer noted.

Meanwhile, a trader in Indonesia reported that a South Korean producer also pulled its ABS prices up by $80-110/ton from last week to $1700-1750/ton and attributed this to high styrene prices in last week.

The trader commented, “We don’t think buyers will show any interest to these new levels since prices might turn down again by next week. We think our supplier is just testing the market.”