Trader: Taiwanese producer issues PS, ABS hikes to SEA
The producer reportedly lifted their offers by $30-40/ton when compared to last week, bringing their new prices to $1310-1320/ton for GPPS, to $1370-1380/ton for HIPS and to $1640-1650/ton for ABS natural, all on a CIF SEA, cash basis.
The trader cited firmer upstream costs as the main reason for the producer’s recent increases, stating, “Demand has been sluggish since the end of the Chinese New Year holidays as buyers are maintaining their cautious stance and purchasing only as needed. However, we are expecting PS and ABS prices to follow a firm trend over the short term as higher costs will support the market.”
In Asia, spot styrene prices have gained around $60-65/ton on a monthly basis to be currently quoted at $1160-1165/ton FOB South Korea.
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