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Taiwanese producer lifts GPPS prices to Asia, modestly cuts HIPS

by ChemOrbis Editorial Team -
  • 24/03/2016 (11:25)
A source from a Taiwanese producer reported that they implemented additional increases of $30/ton on their GPPS prices to China and Southeast Asia today while issuing a modest decrease of $10/ton for HIPS, bringing their new GPPS and HIPS offers to a single level of $1300/ton on a CFR China/CIF Southeast Asia, cash basis.

The source commented, “We raised our GPPS offers to Asia as our March allocation is already sold out. Meanwhile, demand for HIPS remains normal and we are trying to attract better buying interest by lowering our prices slightly. Buyers are not in a hurry to make fresh purchases at the moment. However, we believe that they may return to the market to purchase material if crude oil costs continue to increase in the coming weeks. For the near term, prices may remain on the firm side as the ongoing maintenance season will maintain upward pressure on the market until the end of May.”
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