Taiwanese producer lowers PS, ABS prices to China
The trader stated, “We don’t expect ABS and PS prices to move up in the near term as players are mostly sidelined in the expectation of seeing a downward correction in prices.”
In Southeast Asia, ABS and PS markets softened recently on the back of lower crude oil prices. Some players believe that the upcoming maintenance shutdowns in mid-August will give support to the market. Others claim supply concerns stemming from lower rates and shutdowns ahead of the G20 Summit in China and maintenance shutdowns will not have much effect on prices as these factors have already been reflected on the prices.
In Asia, spot styrene prices decreased by around $30/ton when compared to the early July levels to be currently quoted at around $995-1000/ton on an FOB South Korea basis.
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