Trader: Chinese producer cuts domestic PS, ABS prices
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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