There is a flurry of activities in the China PS market which has a great impact on the import market. A South Korea-based producer informed SSESSMENTS.COM their latest import PS offers for July shipment with GPPS Injection and HIPS Injection recorded at $850/ton and $970-980/ton respectively. While GPPS Injection offers are stable, HIPS Injection offers surged by $20/ton compared to offers two weeks ago. All offers are on LC at sight, CFR China Main Port basis.
The producer pointed out that as the hype for helmets has faded, demand still arouses in China amid normalizing export markets plus boisterous local market. SSESSMENTS.COM noted that orders for end-products reappeared from Europe and the US, concurrent with converters activities to fill the incoming demand from e-commerce shopping festivals in June while preparing for upcoming October’s Mid-Autumn Festival. The ongoing demand also creates a gap that cannot be filled by local PS producers amid the relatively tight supply due to scheduled maintenance, so boosting the import market.
Positive price outlook then shared by the producer to SSESSMENTS.COM. The producer indicated to increase offers next month to keep up with growing export orders for finished goods.
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