Taiwanese producer reduces PS prices to SE Asia
The producer reduced their offers by $50-70/ton for GPPS and by $40/ton for HIPS compared to last week, bringing their new prices to $1360/ton and to $1420/ton, respectively, on a CIF SEA, cash basis. The source commented, “Demand is quite slow while decreasing costs are putting pressure on prices. We reduced our operating rates by 10% from last week to 70-80% as we are reluctant to build stocks in the current market conditions.”
In Southeast Asia, overall import PS prices are currently reported at $1360-1440/ton for GPPS and at $1420-1500/ton for HIPS, all on a CIF SEA, cash equivalent basis.
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