China’s ABS, PS markets witness firmer levels
Data from ChemOrbis Price Wizard shows that ABS prices on a CFR China basis have climbed by around $84/ton on a weekly average basis when compared to pre-National Day holiday levels, suggesting their highest level since July 2015.
This week, following a Taiwanese producer’s hike decision, players reported that a second Taiwanese producer also issued fresh increases on their offers. The producer raised their PS and ABS prices by $20/ton from their latest levels, bringing their new offers to $1510/ton for ABS, to $1270/ton for HIPS and to $1210/ton for GPPS, all on CIF China/Hong Kong, cash basis. A trader commented, “We believe that demand for ABS might continue to improve if upstream costs remain on a firm note.”
In China, overall import ABS prices currently stand at $1460-1540/ton on a CIF, cash basis. For PS, imports prices are currently reported at $1130-1210/ton for GPPS and at $1190-1270/ton with the same terms.
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