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PS sellers revise offers down to China, SE Asia on styrene

by ChemOrbis Editorial Team -
  • 12/09/2017 (15:05)
Players reported that some Asian producers approached China’s and Southeast Asia’s PS markets with some downward corrections on their offers so far this week in line with the recent losses in styrene prices as well as limited demand. PS suppliers had been issuing significant hikes on their offers to Asia for the past weeks due to strong styrene.

In Asia, spot styrene prices are currently around $75/ton lower from last week while they are still standing considerably higher from their early August levels.

A Taiwanese producer’s PS offers to China and Southeast Asia indicate $20/ton decreases from last week at $1500/ton for GPPS injection and at $1600/ton for HIPS injection, on CIF China/SEA, cash basis. “Market activities are slow this week as buyers are sourcing on a need only basis given the recent downturn in spot styrene prices. GPPS sees relatively better buying interest than HIPS while demand in China is better when compared to Southeast Asia,” a company source commented.

A Southeast Asian producer also cut its GPPS offers by $20/ton from last week to $1570/ton CIF SEA, cash basis.

An Indonesian trader reported that their South Korean supplier’s PS offers remained stable this week at $1620/ton for GPPS injection and at $1680/ton for HIPS injection, on CIF Indonesia, cash basis. The trader noted, “The prevailing price levels remain quite high. We believe PS offers will soon witness downward corrections as demand is not supportive.”

In China, the overall ranges for import PS prices currently stand at $1500-1535/ton for GPPS and at $1590-1640/ton for HIPS, on CIF, cash basis. In Southeast Asia, overall prices are reported at $1500-1620/ton for GPPS and at $1600-1680/ton for HIPS with the same terms.
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