Further PS, ABS hikes from Asian producers to SE Asia
An agent of a Taiwanese producer reported that their supplier lifted their offers to Southeast Asia by $40/ton for HIPS and by $30/ton for GPPS and ABS when compared to last week, bringing their new offers to $1100/ton for GPPS, to $1140/ton for HIPS and to $1200/ton for ABS, all on a CIF SEA, cash basis. The agent commented, “We believe that PS and ABS prices will witness further increases in the near term given strong styrene costs.”
A source from a Southeast Asian producer also reported that they increased their PS offers to the regional markets on the back of firmer styrene. The producer’s prices currently stand at $1160/ton for GPPS and at $1200/ton for HIPS, on a CIF SEA, cash basis. Their new levels indicate increases of $30/ton and $40/ton, respectively, when compared to last week. “Demand is not bad, but we are still giving discounts to our customers,” the source stated.
Import PS prices currently stand at $1100-1160/ton for GPPS and at $1140-1200/ton for HIPS, all on a CIF Southeast Asia, cash basis while ABS prices are reported at $1190-1200/ton with the same terms.
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