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Taiwanese producer revises PS prices down to Asia

by ChemOrbis Editorial Team -
  • 09/03/2017 (19:00)
A source from a Taiwanese producer reported that they cut their PS offers to China and Southeast Asia due to the fall in styrene prices driven by ample supplies in China.

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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