Demand in the China styrenics market is starting to regulate over this week. A Chinese producer informed SSESSMENTS.COM that offers for GPPS Injection and HIPS Injection remain stable from a week ago at CNY8,500-8,700/ton ($1,199-1,227/ton) and CNY9,400-9,700/ton ($1,326-1,368/ton) respectively. All local offers on cash, EXW China basis and including 13% VAT.
Regarding demand, the producer observed that the buying sentiment for styrenics is flat this week. While so, prices are still firm because supply in the PS market is not that ample. After June 18, which is the end of e-commerce shopping festival, the producer told SSESSMENTS.COM that demand for end-products could be shrinking. Supply-wise, there are some increments in SM inventory as compared to last week. The total inventory in China ports is 319,500 tons, increased by 16,200 tons, while on traders’ hand, the inventory is 219,500 tons, increased by 17,700 tons.
