Taiwanese producer lifts PS prices to China

According to a trader operating in China, a Taiwanese producer raised their PS prices to the country following the end of the Chinese New Year holiday.

The trader stated that the producer lifted their GPPS and HIPS prices by $200/ton from their most recent offer levels, bringing their new offers to $1670/ton and to $1750/ton, respectively, on a CIF China, cash basis. “The producer’s PS allocation is normal. We think that they raised their offers in line with firming styrene prices,” the trader commented.

Spot styrene prices on an FOB South Korea basis surged by around $155/ton on a weekly basis to be quoted at $1550/ton at the end of last week.