Taiwanese producers cut PS, ABS prices to Asia
A trader offering on behalf of a Taiwanese producer reported that their supplier lowered their GPPS and ABS prices to Southeast Asia in the face of weaker sport styrene costs. The producer cut their prices by $10/ton for GPPS and $20/ton for ABS, bringing their new offers to $1040/ton and to $1140/ton, respectively, both on a CIF SEA, cash basis.
Meanwhile, a source from another Taiwanese producer reported that they implemented a decrease on their HIPS prices to China and Southeast Asia while keeping their GPPS prices stable. The producer cut their HIPS prices by $20-30/ton, bringing their new offers to $1070/ton on a CIF SEA/CFR China, cash basis. Their GPPS prices, meanwhile, remained stable at $1050/ton with the same terms. The source commented, “We lowered our offers in line with the recent styrene losses, which keep buyers on the sidelines in anticipation of seeing further drops. We are willing to give a $10/ton discounts for large-scale purchases. Regarding our supplies, we are currently running our plant at 90% of capacity.”
In Southeast Asia, import prices are currently reported at $1030-1050/ton for GPPS, at $1060-1140/ton for HIPS and at $1140-1145/ton for ABS, all on a CIF, cash equivalent basis. In China, import prices currently stand at $1035-1050/ton for GPPS, at $1070-1080/ton for HIPS and at $1100-1120/ton for ABS, all on a CFR, cash equivalent basis.
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