SE Asian producer lifts PS prices to the region
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.
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