Import PS prices see three-digit hikes in Asia on styrene
Spot styrene prices in Asia have recorded a cumulative increase of almost $115/ton so far this week to hit a five-month high on average in the midst of reducing supplies across the global markets. Spot butadiene prices also increased more than $100/ton on a weekly basis.
A Thai producer commented, “We are trying to lift our offers due to higher costs, but buyers in Southeast Asia are not willing to accept these sizeable hikes. Therefore, we are mostly focusing on the Chinese market, where demand remains healthy nowadays.”
A Taiwanese producer also said, “Southeast Asian buyers are resisting our hike requests. However, buying activity in China is still strong. We might need to apply further increases on our offers if styrene continues to firm up in the days ahead.”
In China, the overall ranges for import PS prices currently stand at $1320-1500/ton for GPPS and at $1480-1570/ton for HIPS on CIF, cash basis while PS prices in Southeast Asia are reported at $1420-1500/ton for GPPS and at $1530-1570/ton for HIPS with the same terms. On a weekly comparison, these ranges show increases of up to $130/ton.
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