Stable to soft trend renewed in PS offers to SE Asia, China
A Southeast Asian producer has rolled over its GPPS inj. and HIPS inj. offers to Southeast Asia from last week at $1310-1320/ton and $1400-1420/ton CIF SEA, cash basis, respectively.
An agent of a Taiwanese producer reported that their supplier cut its PS offers to Indonesia and Vietnam by $10/ton from last week. The producer concluded deals at $1250/ton for GPPS inj. and 1330/ton for HIPS inj. CIF Vietnam while offers to Indonesia were standing at $1270-1280/ton and 1350-1360/ton CIF Indonesia, cash basis.
The agent commented, “We think the recent gains in the energy complex may support PS prices. However, buyers will still prefer to wait in order to see a clearer picture of the market before they start stocking up.”
A Malaysian producer also concluded deals at last week’s levels in Southeast Asia and China for HIPS inj. at $1360/ton CIF SEA, cash basis. “The number of done deal is limited this week and we are selling at a loss now. Demand is quite weak this week given the Eid holidays in Malaysia and Indonesia. We are planning to raise our offers by $40/ton again next week in line with the recent gains in crude oil and styrene prices,” a source from the producer opined.
A few Chinese traders reported that another Taiwanese producer kept its offers stable to China when compared to last week at $1380/ton for GPPS inj. and $1440/ton for HIPS inj. CIF China/Hong Kong, cash basis.
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