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Indian PS shows up at competitive levels in China, SE Asia

by ChemOrbis Editorial Team -
  • 13/10/2017 (15:14)
According to players in China and Southeast Asia, Indian PS cargoes showed up well below the low ends of the current spot ranges, putting pressure on the sellers of mainstream origins.

The overall ranges for import GPPS injection prices are currently quoted at $1400-1490/ton CIF SEA, cash and at $1400-1460/ton CIF China, cash. As for HIPS injection, overall prices are at $1480-1520/ton CIF SEA and at $1500-1560/ton CIF China. However, Indian offers were reported at $1250-1290/ton for GPPS and $1400/ton for HIPS, CIF, cash, subject to duty if applicable.

A converter in Malaysia reported that he received an offer for Indian GPPS at $1290/ton CIF, cash. “This level stands $190/ton below our regular Southeast Asian supplier’s current offer level. We are not making any fresh purchases for the moment as we believe that prices will post further decreases in the near term,” the buyer commented.

A Vietnamese producer, whose GPPS offer stands at $1410/ton CIF, cash, said, “This level is not workable at the moment as there are much lower prices for Iranian, Indian and Thai origins in the market. Hence, we are open to negotiations.”

A Malaysian producer also noted, “We heard that Indian materials are offered at $1275/ton for GPPS and at $1400/ton for HIPS on CIF SEA, cash basis. We are currently offering HIPS at $1650/ton CIF, cash as our supplies are limited and we are going to shut our plant for maintenance at the end of month.”

A trader in Malaysia opined, “Suppliers of Indian PS are giving quite competitive offers to Asian markets nowadays. This is only due to the fact that an Indian producer must be depleting stocks.”

In China, according to a PS producer, a Hong Kong-based trader purchased some Indian GPPS at $1250$/ton CIF, cash this week.

India is not among the major import PS suppliers of China as ChemOrbis Import Statistics reveal that this origin enters the Chinese market randomly in small amounts while they were last seen in December 2016 and January, February 2017. This is interpreted as a destocking move of Indian supplier in the last quarter of the previous year.
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