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Taiwanese producer lifts PS offers to China and SEA

by ChemOrbis Editorial Team -
  • 04/07/2016 (13:20)
A Taiwanese producer raised its PS offers to China and Southeast Asia this week by $30/ton. A company source attributed this increase to higher styrene costs and improved buying activity. “Demand is better when compared to past few weeks as the trend is giving firming signals. We have raised our offers in order to improve our margins,” said the source.

The source also pointed to the upcoming maintenance shutdowns for styrene in August as well as the planned shutdowns ahead of G20 in China. The producer’s new offer levels were reported at $1180/ton for GPPS and $1230/ton for HIPS, both on CIF China and SEA, cash basis.

The PS market was firmer in Southeast Asia this past week as a different Taiwanese producer raised its offers by $10/ton and a Thai producer lifted its PS offers by $20/ton. However, the sentiment in China was not as firm as it was in Southeast Asia as weak demand offset the gains of styrene in China.
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