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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally