Taiwanese producer increases PS offers to China, SE Asia

A source from a Taiwanese producer reported that they implemented increases on their PS offers to China and Southeast Asia when compared to last week on the back of firmer energy markets as well as fluctuating styrene prices.

This week, the producer increased its PS offers by $50/ton for GPPS and by $50-60/ton for HIPS, but concluded deals with 20$/ton discount for GPPS and $20-30/ton discount for HIPS from their current offer levels at $1210/ton and at $1300-1310/ton on CIF China/SEA, cash basis., respectively.

The source commented, “In terms of demand, GPPS is still better than HIPS. Buying activity has shown improvements in line with the recent uptrend; but we are still under sales and cost pressure. Although the May-June period is the off season for PS applications, we think prices may still increase as the trend will depend on the state of demand and upstream.”