Import PS offers on LC at sight, CIF Malaysia main port basis
A local distributor saw positive sentiment in the Malaysia PS market after relaxation on industry activity given by the government. As reported to SSESSMENTS.COM, the Malaysian PS market is in a positive zone after the government relieved technical restrictions entering the fourth phase of the Movement Control Order (MCO). The government on Wednesday, April 28, gave the blessing for the industry to operate beyond the limited time frame of 8 AM to 8 PM. This new provision has made the customer has started to submit inquiries to the distributor for the next delivery of PS cargoes.
With the provisions allowing 100% of production capacity, plant inefficiencies can be avoided so that production costs are not ballooning. Despite positive developments in the manufacturing sector, orders will not immediately recover according to the distributor. "It will be a slow process and gradual increase, but be sure that the May market will be better than April," the distributor told SSESSMENTS.COM.
Despite the positive sentiment, the distributor predicts that the new import offers from a Taiwanese PS producer will be lower than the current levels due to weak international market sentiment and crude oil price is still below $20/barrel. The distributor further informed SSESSMENTS.COM that the Taiwanese PS producer will release the new offers next week.
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Tags: Asia Pacific,English,Freemium,Malaysia,News,SEA,Styrenics
Published on April 30, 2020 4:15 PM (GMT+8)Last Updated on October 1, 2020 4:58 PM (GMT+8)
