Firmer styrene pushes local PS, ABS prices higher in China
A distributor based in Xiamen reported, “Local PS prices have recently witnessed increases given firming styrene costs. For GPPS, offers below the CNY9700/ton ($1359/ton without VAT) level have disappeared from the market.” A Shanghai based trader commented, “PS prices gained ground as styrene costs are higher owing to the ongoing maintenance shutdowns in South Korea. However, we think that prices may not be able to post significant increases as buyers are reluctant to accept higher levels. Meanwhile, ABS prices are stable to slightly higher while demand remains disappointing for this product.”
In China, local PS prices currently stand at CNY9900-10000/ton ($1387-1401/ton without VAT) for A grade GPPS, at CNY9700-9800/ton ($1359-1373/ton without VAT) for B grade GPPS, at CNY10200-10500/ton ($1429-1471/ton without VAT) for A grade HIPS and at CNY10000-10200/ton ($1401-1429/ton without VAT) for B grade HIPS, all on an ex-warehouse China, cash including VAT basis. When compared to last week, the overall PS ranges indicate increases of CNY300-400/ton ($48-64/ton) for A grade GPPS, CNY600-700/ton ($97-113/ton) for B grade GPPS, CNY200/ton ($32/ton) for A grade HIPS and CNY100-300/ton ($16-48/ton) for B grade HIPS.
For ABS, local prices are currently reported at CNY12200-12700/ton with the same terms ($1709-1779/ton without VAT). The high end of the range is up by CNY100/ton ($16/ton).
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- October PET deals concluded with moderate increases in Europe
- Will it be supply or demand to set PP, PE outlook in Europe?
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence