A Chinese distributor revealed to SSESSMENTS.COM that supply factor served as a cushion for local ABS, PS prices in China amid the seasonal slowdown. In the previous week, the distributor opted for a price increase for local GPPS Injection and HIPS Injection cargoes between CNY100-200/ton ($14-28/ton), while deciding to adjust upward their ABS Injection prices by CNY500/ton ($70/ton) on the back of relatively tight supply in the market. This week, the distributor rolled over offers for both grades from a week earlier. From the import market, the distributor did not get allocations from a Taiwanese PS producer as the producer’s supply is very tight amid shutdown at its PS plant. As noted, the producer will stop producing GPPS and HIPS citing thin profit margin.
Despite China PS market is on the brink of seasonal slowdown, the distributor told SSESSMENTS.COM that demand for PS in China remains healthy as the operating rate of manufacturers is increasing. Previously, the demand for bike helmets in China leapt on the country’s new compulsory usage law. However, even though the hype has faded, several home appliances and automobiles manufacturers have witnessed an increase in demand from the export market. In terms of outlook, the distributor believes that export demand is likely to increase further in the near term as more countries have gradually lifted lockdown measures.
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