SE Asian producer reduces PS prices to the region
A converter who received PS prices from the producer stated, “We are not interested in purchasing for now as we are planning to wait for a while longer before deciding on our next move.”
Meanwhile, a Taiwanese producer reported that they reduced their prices to the Southeast Asian market by $5-10/ton for GPPS, $10/ton for HIPS and $30/ton for ABS this week as ongoing losses in upstream markets maintain downward pressure on prices.
In Southeast Asia, import PS prices are currently standing at $1030-1170/ton for GPPS and at $1100-1250/ton for HIPS, both on a CIF SEA, cash equivalent basis.
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