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Vietnamese producer reduces GPPS prices to SEA

by ChemOrbis Editorial Team -
  • 12/11/2014 (11:46)
A source from a Vietnamese producer reported that they implemented a downward revision on their GPPS prices to Southeast Asia owing to weaker styrene costs as well as sluggish demand. The producer cut their GPPS offers by $70/ton to $1500/ton on a CIF SEA, cash basis.

The source stated, “Market sentiment remains weak in the face of the recent significant decreases in upstream markets. In spite of our reduction, buyers maintain their cautious stance and they do not purchase beyond their needs. We feel that spot styrene prices still have some room to decline.”

In Asia, spot styrene prices have slumped around $105/ton week over week to be currently quoted at around $1240-1245/ton FOB Korea. Upstream, spot naphtha prices also lost $50/ton on the week to reach $650-655/ton CFR Japan.
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