Taiwanese producer applies further decreases on PS offers to China, SEA
by ChemOrbis Editorial Team - content@chemorbis.com
A source from a Taiwanese producer reported that they implemented additional decreases on their PS offers to China and Southeast Asia due to softer styrene prices. The producer cut its GPPS and HIPS offers by $50/ton when compared to last week.
The source stated, “We are still willing to give discounts of around $20/ton for GPPS and $30-40/ton for HIPS on done deals. Demand is quite weak as buyers are not interested in replenishing their stocks when the upstream costs are softening. When compared to HIPS, demand for GPPS is relatively better.”
The producer’s PS offers currently stand at $1290/ton for GPPS and at $1390/ton for HIPS, on CIF China/SEA, cash basis while they concluded deals at $1270/ton for GPPS and at $1350-1360/ton for HIPS with the same terms.
In Asia, spot styrene prices have retreated by around $85/ton on a week over week basis to be currently quoted at $1095/ton on an FOB South Korea basis. Meanwhile, May crude oil futures on the NYMEX posted a visible drop of $1.97/barrel on April 19 to reach $50.44/barrel.
The source stated, “We are still willing to give discounts of around $20/ton for GPPS and $30-40/ton for HIPS on done deals. Demand is quite weak as buyers are not interested in replenishing their stocks when the upstream costs are softening. When compared to HIPS, demand for GPPS is relatively better.”
The producer’s PS offers currently stand at $1290/ton for GPPS and at $1390/ton for HIPS, on CIF China/SEA, cash basis while they concluded deals at $1270/ton for GPPS and at $1350-1360/ton for HIPS with the same terms.
In Asia, spot styrene prices have retreated by around $85/ton on a week over week basis to be currently quoted at $1095/ton on an FOB South Korea basis. Meanwhile, May crude oil futures on the NYMEX posted a visible drop of $1.97/barrel on April 19 to reach $50.44/barrel.
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