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Gap between HIPS and PP raffia narrows in Asia

  • 27/03/2017 (09:24)
In China and Southeast Asia, the gap between import HIPS and homo-PP prices has been narrowing since early February after reaching an all time high at around $600-650/ton.

As data from ChemOrbis Price Index suggests, import HIPS prices on CIF China/SEA basis have been tracking a visibly decreasing trend since the end of the Chinese New Year holiday in the face of plunging styrene prices in Asia. Spot styrene prices on an FOB South Korea basis have plummeted by around $200/ton since the beginning of March. Meanwhile, no major changes were reported for import homo-PP in both regions recently.

According to the Price Index data, despite the recent decreases, import HIPS prices are still carrying a significant premium over homo-PP prices in Asia. The price gap between the two products is currently at around $340-345/ton in Southeast Asia and at $375/ton in China. A few players in Asia noted, “The gap has narrowed by around $270-280/ton since early February, but it is still quite big as HIPS traditionally carries a premium of around $150-170/ton over homo-PP.”



Source: ChemOrbis Price Wizard



Source: ChemOrbis Price Wizard

A Taiwanese producer reported lowering its PS offers by $100/ton from last week, stating, “We are open to give further discounts of $10-20/ton on our offers as demand is quite weak given the recent losses in styrene. Spot styrene prices keep declining despite the maintenance season and we think that further losses are possible given weak demand and improving supplies.”
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