Sentiment for PS, ABS improves on firmer styrene in Asia, buyers skeptical
Nonetheless, converters in China and Southeast Asia approached firmer requests of their suppliers with skepticism and continued to keep their purchasing volumes moderate so far.
A trader in Indonesia received increases of $70/ton for GPPS and $20-50/ton for HIPS week over week. “Firmer spot styrene prices in the region have not boosted spectacular demand so far,” he said.
“We elected to maintain our prices flat for GPPS, HIPS and ABS to China and Southeast Asia this week. Yet, buyers’ response to our firmer attitude has been limited as the devaluation of local currencies against the USD keeps activity modest,” a source from a Thai producer reported.
A South Korean producer lifted their ABS prices by $50/ton and added that they expect to conclude deals below their current price levels. A trader in China also raised his Taiwanese and South Korean ABS offers by $10-20/ton when compared to last week. He stated, “Some traders started to take position although manufacturers continue to refrain from building extra stocks.”
“Our PS and ABS prices are steady to higher this week counting on relatively improved sentiment owing to the slight gains in styrene prices. Yet, offers on the high ends have lacked of buying interest amid the ongoing cautiousness on buyers’ side,” reported a supplier.
A Taiwanese PS maker reported keeping their offers flat, adding that they are subject to negotiations. “PS offers have been unable to catch up with the firming of styrene given the lack of support from demand. Although there is buying activity, players are not sourcing any cargos beyond their basic needs. We think the direction of styrene and the impact of the ongoing trade war between US and China will be key factors to shape the future trend,” commented a producer source.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Competitive US PE offers emerge in SEA after latest round of US-China tariffs
- PET players question sustainability of recent upturn in Asia as low season nears
- PP, PE markets face stable to softer trend for the 5th month in a row in Mid-East, Africa
- Will upcoming restriction on shopping bags hamper demand in Turkey?
- PS market cautiously firms in Europe on heels of styrene
- Asian PVC players voice expectations for September pricing
- Global styrene markets spike on supply concerns
- How will China’s import PP market respond to firming locals, upcoming turnarounds?
- Saudi major adopts similar pricing policy for Aug PP, PE in export markets
- Turkey’s H1 polymer imports rise y-o-y, PP and PVC take the lead