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Local PS prices firm up in China given strong styrene

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/02/2016 (16:38)
In China, players report that local PS prices have witnessed increases this week on the back of firmer styrene prices. In Asia, spot styrene prices on an FOB Korea basis increased around $50/ton on the week to be currently quoted at $995/ton, the highest level seen since mid-August.

A source from a domestic producer reported that local PS prices climbed by around CNY300-400/ton ($46-61/ton) when compared to pre-holiday levels owing to the recent rebound in styrene costs. “We are offering smaller quotas to the domestic markets nowadays as spot styrene prices have posted significant hikes recently,” the source stated.

A Shanghai-based trader also reported, “Most local PS producers opened this week with increases of around CNY100-300/ton ($16-46/ton) on their offers in line with firmer styrene costs.”

In China, local PS prices currently stand at CNY8300-8600/ton ($1089-1128/ton without VAT) for GPPS and at CNY8150-8700/ton ($1069-1141/ton without VAT) for HIPS, all on an ex-warehouse China, cash equivalent basis.
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