Taiwanese producers issue fresh hikes on PS, ABS prices to China

Traders operating in Hong Kong reported that two Taiwanese producers implemented fresh hikes on their PS and ABS offers to China in line with firm spot styrene prices and the ongoing tightness in ABS supplies.

According to traders, a Taiwanese producer applied increases of $50/ton for ABS and $40/ton for PS when compared to two weeks ago while another producer lifted its offers by $50-70/ton for ABS and by $40/ton for PS from its latest offer levels.

“Producers’ ABS allocations remain tight while PS supplies are mostly sufficient,” noted traders.

Spot styrene prices in Asia are currently $45-50/ton higher when compared to initial July levels, hovering around $1160-1165/ton FOB South Korea.

In China, the overall ranges for import PS prices are currently quoted at $1320-1420/ton CIF China/Hong Kong, cash basis for GPPS and at $1420-1480/ton for HIPS. As for ABS, the overall range stands at $1850-1880/ton with the same terms.