A source from an Indonesian PS producer informed SSESSMENTS.COM the company’s July allocation for GPPS Injection and HIPS Injection has sold out to both local and export markets. As reported, the producer has sold around 4,500-5,000 tons of PS materials to the local market with deals concluded at $1,000/ton for GPPS and $1,080/ton for HIPS, all on cash, FD Indonesia basis and excluding 10% VAT. While to the export market, the producer sold PS cargoes with a total volume of around 2,000 tons and more than half of it sold to China market. Total allocation sold for GPPS Injection was 300 tons with deals concluded at $30/ton lower than the producer’s price list at $990/ton on LC at sight, CIF China Main Port basis. As for HIPS Injection, deals achieved at $1,080/ton on the same payment and delivery term for 1,000 tons. More added, up until July 17 morning, the producer still receives inquiries from Chinese buyers for HIPS Injection around 200 tons.
While to other markets, the producer sold PS cargoes on a contract basis to the Australia and Philippines market with quantity around 100 tons. For August shipment, fresh offers will be announced by the end of this month, with an indication $20-30/ton increases compared to July shipment offers following the higher SM prices, SSESSMENTS.COM was told.
