Taiwanese producer raises PS prices to SEA, China
Accordingly, the producer’s prices are up by $30-50/ton for GPPS and $10-20/ton for HIPS when compared to last week’s levels. The producer concluded deals from their offer levels at $1380-1400/ton for GPPS injection while deals for HIPS injection were concluded with a $10/ton discount at $1410-1430/ton on a CIF SEA/China, cash basis.
A producer source opined, “Offers for GPPS are mostly firm while HIPS offers are subject to $10/ton discounts. We were not able to raise our HIPS offers much due to weak demand while the ongoing butadiene increases exert cost pressure on us. Demand for GPPS is still better than HIPS. Unlike last year, distributors mostly have some inventories and they focus on clearing their stocks before Chinese New Year.”
Regarding manufacturers, the source also stated, “Manufacturers find current price levels too high to accept. Most of them have inventories that will last until February; therefore, they prefer to stay on the sidelines. In general, demand is only from regular customers purchasing based on their needs.”
Sharing his expectations about the market, the source commented, “We expect to see stable prices in the first quarter on the back of the upcoming styrene plant maintenances. We think prices will start to soften in May or June.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures