Chinese producer increases PS offers to local market

A source from a Chinese producer reported that they have increased their PS prices to the local market in line with firmer upstream markets.

When compared to last week, the producer increased its prices by CNY250/ton ($38/ton) for GPPS and by CNY200/ton ($30/ton) for HIPS to CNY10,900/ton ($1396/ton without VAT) and CNY11,650/ton ($1492/ton without VAT) ex-warehouse China, cash including VAT, respectively.

In Asia, spot ethylene prices on Far East Asia basis are currently $245/ton higher than its early August levels. CFR China based butadiene prices and FOB Korea based styrene prices also increased by around $290/ton and $75/ton respectively within the same period.