An Indonesian trader reported on adjusting South Korean PS and ABS prices significantly following the movement of monomer prices. As reported to SSESSMENTS.COM, import offers for South Korean ABS Injection, GPPS Injection, and HIPS Injection from the trader’s end were adjusted down by $80/ton from last week’s levels. The continuous downtrend in SM prices cited as the major reason behind the significant price reduction.
Despite the notable decrease, feedback from buyers remain cold and no bids received so far. Considering the downtrend in monomer prices, the trader opined to SSESSMENTS.COM that GPPS Injection prices would break a new threshold, at below $900/ton-level in the near term. As such, the trader perceived that adjusting down the offers further is meaningless as most buyers are not keen on making procurements.
