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.
Click below to view related stories and content on PS:
NewsSSESSMENTS: Naphtha Prices Obtain Firmer Footing From Various Factors, Break New Threshold Level
NewsSSESSMENTS: South Korean PS Producer: China Market On Spell
