Offer given for local PS on cash, EXW China basis (including 13 VAT in CNY term, all equivalent in USD excluding VAT)
A Chinese PS producer contacted by SSESSMENTS.COM unveiled that supply condition on the producer’s end has led to price adjustment. On a weekly comparison, the producer has adjusted up the offers for GPPS Injection by CNY100/ton ($14/ton) and by CNY50/ton ($7/ton) for HIPS Injection. In the upstream market, SM prices are relatively stable from last week. As such, the supply condition is the major ground of the upward price adjustment.
Further explained by the producer, last week, inventory on the converters’ end was on the low level since demand for the end-products was slow. Currently, converters are trying to fulfil the orders, especially for air conditioners, as demand from the local and export market has started to recover. Hence, buying sentiment for PS resins has slightly improved. However, the producer still doubts that the PS market will fully recover in the near time, as buyers are still unwilling to procure in a big volume and some big converters already stocked up materials when PS prices were low. Looking ahead, the producer opined that PS prices have a chance to go up if crude oil prices keep heading higher. However, buying sentiment would not follow suit as buyers are still on a cautious stance, as stated to SSESSMENTS.COM.
Tags: Asia Pacific,China,English,NEA,News,Styrenics
Published on June 11, 2020 5:43 PM (GMT+8)Last Updated on June 11, 2020 5:43 PM (GMT+8)
