Chinese producer lifts PS offers to local market

A source from a Chinese producer reported that they have raised their PS prices to the local market when compared to pre-holiday levels. The producer increased their prices by CNY150/ton ($22/ton) for GPPS and by CNY250/ton ($37/ton) for HIPS, bringing their new offers to CNY9150/ton ($1172/ton without VAT) and CNY9750/ton ($1240/ton without VAT) ex-warehouse China, cash including VAT, respectively.

The source attributed the increasing PS offers to firming butadiene prices which pushed up ABS offers and also influenced HIPS sentiment as well. “In the short term, PS will maintain its firmer trend. As GPPS is mainly affected by the trend of styrene, it will not see much movement,” he said.