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Taiwanese producers revise GPPS prices downward to China, SEA

by ChemOrbis Editorial Team -
  • 12/04/2016 (14:46)
A source from a Taiwanese producer reported that they revised their GPPS prices downward to China and Southeast Asia today in the face of softer spot styrene costs. For HIPS, they maintained their offers at their latest levels.

“Demand is normal at the moment, but it is not as strong as it was in March. We feel that styrene prices will stabilize at around $1100/ton in the days ahead thanks to the recent gains in crude oil costs. Hence, the effect of the recent styrene losses may be limited on Asian PS markets,” the source commented.

According to the source, the producer’s PS offers currently stand at $1290/ton for GPPS and at $1330/ton for HIPS, both on a CIF SEA/CFR China, cash basis.

Meanwhile, an agent of a second Taiwanese producer reported that their supplier issued a modest decrease of $10/ton on their PS and ABS prices to Southeast Asia due to softer styrene. The agent stated, “We think that PS prices may have some room for modest declines as they increased too much in the previous weeks. Demand in April is a bit limited when compared to March.” According to him, the producer currently offers GPPS at $1340/ton, HIPS at $1350/ton and ABS at $1420/ton, all on a CIF, cash basis.
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