Asian sellers: PS gains further ground, but demand improvement slows
A source from a Taiwanese producer reported that they lifted their PS prices to Southeast Asia and China by $70/ton for GPPS and by $60/ton for HIPS this week. The producer’s PS offers currently stand at $1270/ton for GPPS and at $1310/ton for HIPS on a CIF SEA/CFR China, cash basis. The source stated, “We have already sold out our GPPS allocations for March as demand for GPPS is better than HIPS. Meanwhile, demand in general has slowed a bit when compared to the previous weeks as buyers are now more cautious about making fresh purchases. In the near term, we believe that the market will track a firm trend as the maintenance season will last until May.”
An agent of another Taiwanese producer reported that their supplier implemented rather modest increases on their PS prices to Southeast Asia today. The producer raised their offers by $15/ton for GPPS and by $5/ton for HIPS while maintaining their ABS prices from last week. According to the agent, the producer’s new offers stand at $1255/ton for GPPS and at $1285/ton for HIPS, both on a CIF SEA, cash basis.
In Southeast Asia, import PS prices are currently quoted at $1255-1300/ton for GPPS and at $1285-1320/ton for HIPS, all on a CIF, cash equivalent basis.
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