A Taiwanese PS producer adjusted up PS offers up to three digits to China and Southeast Asia market and gained a contrast response from buyers. As stated to SSESSMENTS.COM, this week, the producer has started offering for July shipment as the company has sold out all June allocation for PS cargoes since the middle of May. Offers for GPPS Injection from the producer to China and Southeast Asia market are available between $870-900/ton on LC at sight, CIF Main port basis. While for HIPS Injection cargoes, the producer moved up the offers by $100/ton compared to last week's level. However, the allocation for these cargoes is limited on the back of maintenance shutdown at the producer’s end.
Further explained, the current offers gain a different response from buyers. In the China market, both traders and converters aggressively take the cargoes. Due to that, the producer plans to increase offers for GPPS Injection and HIPS Injection cargoes between $20-30/ton by next week, as stated to SSESSMENTS.COM. While to the Southeast Asia market, done deals are limited as buying sentiment in the region remains flat.
