Southeast Asian producers raise PS offers
A Singaporean producer lifted its offers by $50-60/ton to $1230/ton for GPPS and $1260/ton for HIPS, CIF SEA, cash. A company source said, “We lifted our offers due to our higher styrene costs. The other regional producer’s price hikes also helped our firmer stance.”
A Thai producer, meanwhile, held its GPPS offers stable and raised HIPS offers by $30-50/ton. “HIPS demand was relatively better than GPPS and we applied different amounts of increase depending on the market,” a company source said. The producer’s new offer levels for GPPS were at $1180/ton and $1230-1250/ton CIF SEA, cash.
A Malaysian producer also lifted its HIPS offers by $20/ton to $1250/ton with the same terms.
The new offer levels are yet to find acceptance as no deal was reported at the time of press.
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