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).
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