Taiwanese producer revises PS prices downwards to Asia

A source from a Taiwanese producer reported that they implemented downward revisions on their January shipment PS offers to China and Southeast Asia owing to the recent losses in spot styrene prices.

The producer cut their prices by $20-30/ton for GPPS and $30-40/ton for HIPS when compared to last week, bringing their new offers to $1370-1380/ton and to $1420-1430/ton for HIPS, respectively, on a CIF SEA/China, cash basis.

The source stated, “Buyers have retreated to the sidelines following the recent styrene decreases. However, we are still feeling positive about the near term outlook as several styrene plants are slated to be shut in South Korea and Japan in the first half of 2017.”