Taiwanese producer cuts PS prices to Asia

A source from a Taiwanese producer reported that they implemented a decrease on their PS prices to China and Southeast Asia for another week in the face of weaker styrene costs. The producer lowered their prices by $20-30/ton, bringing their new offers to $1220-1230/ton for GPPS and to $1270/ton for HIPS, all on a CFR China/CIF SEA, cash basis.

The source commented, “Styrene prices are retreating while PS demand has slowed in the past weeks as buyers are now waiting on the sidelines due to their expectations of further price declines. We are currently operating our plant at full rates as we will shut our production line at the end of the month due to maintenance.”

A container manufacturer in Indonesia stated, “Demand is muted at the moment while softer styrene costs are putting pressure on the PS market. We are planning to stand on the sidelines until we have a clearer idea about the market outlook.”