Local PS offers on cash, EXW China basis (including 13% VAT in CNY term and excluding VAT in USD term)
A Chinese PS producer informed SSESSMENTS.COM on amending local offers considering production costs despite frigid demand. Recently, SM prices have gained some strength and moved higher between CNY100-150/ton ($14-21/ton) over the week, buoyed by rising crude oil prices. Considering the higher production costs, the producer also decided to raise local offers by CNY100/ton ($14/ton) for GPPS Injection and by CNY150/ton ($21/ton) for HIPS Injection. Both compared to a week earlier.
In terms of demand, the producer told SSESSMENTS.COM that buying sentiment from the downstream market remains the same as last week, no significant improvement so far. Some converters maintain buying on a hand-to-mouth basis, while some others still have sufficient inventory on-hand. Hence, the overall deals this week are scarce. Additionally, the producer notified that the company’s plant is running normally.
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Tags: Asia Pacific,China,English,NEA,News,Styrenics
Published on June 4, 2020 3:54 PM (GMT+8)Last Updated on June 4, 2020 3:54 PM (GMT+8)
