Taiwanese PS producer raises export prices to SEA, China
by ChemOrbis Editorial Team - content@chemorbis.com
A source from a Taiwanese producer reported that they raised their export prices to Southeast Asia and China. The producer’s current export offers stand at $1180-1200/ton for GPPS and $1240/ton for HIPS, all on an FOB basis. GPPS prices are up by $20-30/ton while HIPS offers increased by $50/ton on a weekly basis.
The source reported that demand towards GPPS is better than for HIPS while the overall demand is said to be stable. “Orders are reportedly good due to players’ low inventory levels, rising crude oil and styrene prices. This led buyers to start replenishing material, but mostly based on their needs. No supply problem was reported. We believe that styrene prices will hover around their current levels while PS prices will be determined by the styrene trend and demand. Our current production rate for GPPS is 100% while it is 70% for HIPS,” he commented.
Meanwhile, the producer’s latest done deal levels for GPPS and HIPS in Southeast Asia and China remained mostly stable from last week. The producer concluded GPPS deals at $1130-1150/ton and HIPS deals at $1190-1200/ton, all on a CIF SEA/China basis.
The source reported that demand towards GPPS is better than for HIPS while the overall demand is said to be stable. “Orders are reportedly good due to players’ low inventory levels, rising crude oil and styrene prices. This led buyers to start replenishing material, but mostly based on their needs. No supply problem was reported. We believe that styrene prices will hover around their current levels while PS prices will be determined by the styrene trend and demand. Our current production rate for GPPS is 100% while it is 70% for HIPS,” he commented.
Meanwhile, the producer’s latest done deal levels for GPPS and HIPS in Southeast Asia and China remained mostly stable from last week. The producer concluded GPPS deals at $1130-1150/ton and HIPS deals at $1190-1200/ton, all on a CIF SEA/China basis.
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