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Two PS producers cut prices to SEA on styrene plunge

by ChemOrbis Editorial Team -
  • 28/05/2015 (17:51)
A source from a Southeast Asian producer reported that they lowered their import PS prices to the regional market by $40-50/ton in the face of significant decreases in spot styrene prices. The producer’s PS prices currently stand at $1560/ton for GPPS and at $1600/ton for HIPS, both on a CIF SEA, cash basis.

The source commented, “We were only able to conclude a few deals after agreeing to discounts this week. We may consider holding onto our inventory and waiting for a rebound before returning to the market.”

In Asia, spot styrene prices plunged by around $140/ton week over week to be currently quoted at $1255-1260/ton on an FOB South Korea basis.

Meanwhile, an agent of a Taiwanese producer reported that their supplier cut their PS prices by $30/ton on the week, bringing their new offers to $1490/ton for GPPS and to $1560/ton for HIPS, both on a CIF SEA, cash basis. He stated, “Demand remains week while our supplier’s offers are open to negotiations.”
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