Sellers: PS demand remains muted in SEA
An agent of a Taiwanese producer said that they concluded a deal at $1320/ton CIF Vietnam for GPPS. “Demand remains disappointing in the region and we feel that prices still have room to decline,” the trader reported.
A Southeast Asian producer said that they concluded deals in the Malaysian market at $1390-1420/ton DAP for GPPS and at $1450/ton for HIPS. “Some other regional suppliers are being very aggressive with their offers and this left us unable to conclude a large volume of deals,” a producer source reported.
A source from a Thai producer, whose offers stand at $1370-1380/ton CIF for GPPS and at $1450/ton for HIPS, added, “Demand is quiet given the rainy season in Thailand and Vietnam and the holidays in Indonesia and Malaysia. We received a bid for HIPS at $1300/ton CFR Japan, but did not accept this bid as we found it to be too low.”
Import PS prices currently stand at $1320-1425/ton for GPPS and at $1420-1465/ton for HIPS, both on a CIF SEA, cash equivalent basis.
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