China’s local PS, ABS markets rise on firmer styrene
A source from a local producer stated, “PS and ABS prices posted large increases of around CNY500-600/ton ($80-96/ton) when compared to the pre-holiday levels. Although demand remains inactive, higher prices find support from the cost side. We expect prices to continue to follow a firming trend over the short term as several maintenance shutdowns across the region keep styrene costs strong.”
The producer’s local PS and ABS prices currently stand at CNY9400/ton ($1308/ton without VAT) for A grade GPPS, at CNY10000-10200/ton ($1392-1420/ton without VAT) for A grade HIPS and at CNY12800/ton ($1781/ton without VAT) for ABS, all on an ex-warehouse China, cash including VAT basis.
A trader based in Xiamen also reported that local PS and ABS prices entered the post-holiday period with sizeable increases of more than CNY500/ton ($80/ton). “However, overall demand remains discouraging as most buyers are yet to return to the market from the holidays while others are maintaining their cautious stance towards the market. We still think that PS and ABS markets will see further increases over the near term as spot styrene costs are likely to remain firm on the back of several turnarounds in the region,” he commented.
The trader currently offers A grade GPPS at CNY9500-9700/ton ($1322-1350/ton without VAT), B grade GPPS at CNY9200-9400/ton ($1280-1308/ton without VAT), A grade HIPS at CNY10100-10200/ton ($1406-1420/ton without VAT), and B grade HIPS at CNY9800-9900/ton ($1364-1378/ton without VAT), all on an ex-warehouse China, cash including VAT basis.
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