Taiwanese producer lifts HIPS prices, halts GPPS offers to Asia
The producer lifted their HIPS prices by $50-60/ton from last week, bringing their new offers to $1250/ton on CFR China/CIF SEA, cash basis. The source commented, “Demand has been improving gradually as buyers are generally more active when the market tracks a firming trend. We see better demand for GPPS than HIPS and are currently only offering HIPS to our regular customers. Plus, spot styrene prices witnessed major increases of more than $100/ton in one week.”
Regarding their near term expectations, the source added, “We are a bit worried as prices have increased too much in a short time, which may push buyers to the sidelines and adopt a wait and see attitude in the coming days. In addition, if PS prices post bigger increases than other polymers such as PP and PET, some end product manufacturers may prefer to use them instead of PS.”
The producer is running their GPPS plant at full rates while operating rates at their HIPS plant are currently at around 70%, the source added.
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