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...
- Crude oil prices seesaw on geopolitics and ebbing demand
- China’s local PP markets return on a cautiously firm note, defying weak fundamentals
- Mid-Eastern PP, PE markets rise in February after three months of weakness
- Stats: China’s 2023 PE imports snap two-year downfall despite rapidly growing domestic capacities
- PE rally loses momentum on subsiding demand in Türkiye
- PVC prices flat for 2nd straight month in Italy and West Europe
- Freight rates snap rally, Red Sea crisis keeps decreases in check
- Worsening dollar shortage pushes Egypt’s local PP, PE prices to never-before-seen highs
- Stats: US PE exports hit a renewed record in 2023, sales to China boom
- Türkiye’s PP market continues to grapple with tight supply, prices at multi-month highs