Players report supply limitations for PS in SE Asia
Singapore’s TPSC is planning to shut its 95,000 tons/year PS plant on April 12. The plant is expected to be restated on April 29. Thailand’s SCG-Dow also reportedly plans to conduct a maintenance shutdown at its 200,000 tons/year PS plant in the first quarter of 2015. The shutdown is expected to last around one month. SCG-Dow, meanwhile, shut its styrene plant in late February for a scheduled maintenance. The 300,000 tons/year plant will remain offline for a month.
A source from a Southeast Asian producer stated, “Our inventory levels are limited, hence we raised our prices by $20/ton for GPPS and by $10/ton for HIPS to $1370/ton CIF, cash and $1410/ton, respectively.”
A converter based in Indonesia reported receiving an offer for Vietnamese GPPS at $1265/ton CIF, cash. “Our Vietnamese supplier says that their availability will remain limited for the next few weeks, so we are planning to cover our needs from the local market,” the buyer commented.
A Vietnamese converter stated, “A South Korean supplier informed us that prices have jumped on the back of their supply shortage. We found the new higher levels to be unworkable and we are not interested in purchasing as we fortunately have sufficient material for now. Demand for our end product is not doing well nowadays.” The buyer received a GPPS offer for a South Korean origin at $1400/ton CIF Vietnam, cash.
In Southeast Asia, overall import PS prices currently stand at $1260-1420/ton for GPPS and at $1300-1430/ton for HIPS, all on a CIF SEA, cash equivalent basis.
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