Taiwanese maker introduced drastic hike to PS, ABS prices

Market players reported that a major Taiwanese producer has implemented three digits hike on their PS and ABS cargoes to Southeast Asia this week amid firming upstream costs. The producer latest offer stand at $1300/t for GPPS, $1310/t for HIPS and $1360/t for ABS, all on CIF SEA, LC AS term, which is $100-130/t higher than last month.

A trader commented, “Surging upstream costs stemming from a series of plant shutdown has resulted in higher styrenic product prices. However, we think buyers might feel hesitating toward the new offers from Taiwanese maker.”

Another Malaysian trader added, “We do expect buyers to resist this new offer level, yet, we do not think the market could change direction soon considering the number of scheduled shutdown at SM plants. Demand in Southeast Asia market is not very strong at the moment, and we hope buyers will come back to make some replenishment in the coming days.”

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