SE Asian producer lifts PS prices to the region
by ChemOrbis Editorial Team - content@chemorbis.com
A source from a Southeast Asian producer reported that they have lifted their PS prices to the regional markets on the back of firming spot styrene costs.
When compared to their initial February offer levels, the producer raised their prices by $50-60/ton for GPPS to $1250-1260/ton CIF SEA, cash and by $40/ton for HIPS to $1310/ton with the same terms.
The source stated that they managed to conclude HIPS deals in the Philippines at $1290-1300/ton CIF, cash while they sold GPPS at $1250-1260/ton and HIPS at $1310/ton to Malaysia, both on a DAP, cash basis. “Our sales are going very well and we have almost sold out our March quota. We expect prices to remain firm in the near term as the market is supported by strong styrene costs which are likely to post further increases in line with several shutdowns in the region,” he commented.
When compared to their initial February offer levels, the producer raised their prices by $50-60/ton for GPPS to $1250-1260/ton CIF SEA, cash and by $40/ton for HIPS to $1310/ton with the same terms.
The source stated that they managed to conclude HIPS deals in the Philippines at $1290-1300/ton CIF, cash while they sold GPPS at $1250-1260/ton and HIPS at $1310/ton to Malaysia, both on a DAP, cash basis. “Our sales are going very well and we have almost sold out our March quota. We expect prices to remain firm in the near term as the market is supported by strong styrene costs which are likely to post further increases in line with several shutdowns in the region,” he commented.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Will China's local PP market retain futures-driven gains prior to holidays?
- Upcoming holidays, COVID spike pressure PS in Asia
- Shortage pushes Europe’s ABS markets to multi-year highs
- Longest-ever rally staggers in Turkey’s PVC market
- Upstream keeps China PET afloat; prices hit 11-month high
- Import PVC uptrend loses momentum in Asia; is the 9-month rally coming to an end?
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
