Korean producer cuts GPPS price to Vietnam

According to Vietnamese players, a major Korean PS maker has stepped back on their GPPS offers by $30/t compared to last week on weak demand. The latest offers from the producer stand at $1080-1090/t CIF Vietnam, LC AS term.

A buyer received the offer said, “Crude oil is coming down too quickly and we see styrene monomer is also weakening. We are not confident about the market outlook in the near term; hence we prefer to be on the sideline for now.” Another converter added that they are not interested in making fresh purchases as they have purchased sufficient material until third quarter of the year.

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