China market saw a significant increase in demand for styrenics following the Chinese government’s announcement regarding helmet policy on the weekend. After the “One Head, One Helmet” policy announcement, a Chinese producer informed SSESSMENTS.COM that their PS offers have increased due to huge demand for helmets. Compared to the last trading day, the producer’s local offers for GPPS Injection and HIPS Injection increased by CNY150/ton ($21/ton), but the company also heard some other producers raised their prices as much as CNY400/ton ($56/ton). Since helmets are in huge demand, prices for PS and ABS increased significantly. Market talks have it that some sellers even increased offers for ABS Injection by around CNY1,000/ton ($141/ton) from the last trading day. As the ABS and PS market is on the spotlight, most converters are in a cautious stance as prices tend to fluctuate quickly.
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