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Trader: Chinese producer cuts domestic PS, ABS prices

by ChemOrbis Editorial Team -
  • 17/11/2015 (13:49)
A trader operating in Ningbo, China reported that a domestic producer lowered their PS and ABS prices to the local market at the start of the week. According to him, the producer cut their offers by CNY200/ton ($31/ton) for PS and ABS.

The trader commented, “Demand remains sluggish in the local market. The producer is now running their plant at normal rates while they are selling only around half of the volumes they usually place during the high season. We think that the producer may face sales pressure starting from next month as the peak season for refrigerators has come to an end.” He also stated that they are cautiously approaching the market nowadays, adding, “We are not expecting to see any real recovery in prices before the end of this year.”

According to the trader, the producer’s local offers currently stand at CNY8400/ton ($1130/ton without VAT) for GPPS and HIPS and at CNY9800/ton ($1317/ton without VAT) for ABS, all on an ex-warehouse China, cash including VAT basis.
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