Taiwanese producer revises PS prices down to Asia
The producer decreased their offers by $20-30/ton from last week and concluded deals with an additional decrease of a similar amount at $1500/ton CIF, cash for GPPS and at $1600/ton for HIPS with the same terms. Accordingly, the total decrease from last week reached $50/ton in this week’s deals.
A producer source commented, “The market is slow in digesting the current high inventory levels. Plus, players are remaining on the sidelines as prices are decreasing. We think whether a rebound in the market will emerge or not depends on demand and the status of inventory levels.”
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