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China’s local PS, ABS markets start week with further increases

by ChemOrbis Editorial Team -
  • 07/03/2016 (17:48)
Traders in China reported that local PS and ABS prices started the week with fresh increases on the back of significantly firmer spot styrene costs, which surged by around $110/ton on the week to be currently quoted at $1125-1130/ton on an FOB South Korea basis.

A trader active in Xiamen reported that local ABS prices rose by CNY200-250/ton ($31-38/ton) while PS prices also posted increases of around CNY200-300/ton ($31-46/ton) when compared to last week. “Prices have increased a lot recently. However, our sales are still not that strong,” he stated.

A Shanghai-based trader reported that a local Chinese producer implemented an increase of CNY400/ton ($61/ton) on their PS offers while another local producer raised their prices by CNY900/ton ($138/ton) for GPPS and by CNY1000/ton ($153/ton) for HIPS. The trader attributed the recent increases to notable gains in spot styrene costs in Asia.
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