A Taiwanese producer lifted their prices by $20/ton for GPPS and $10/ton for HIPS to China and Southeast Asia after Lunar New Year holidays due to the firmer styrene market. “Demand from China remains calm since manufacturers are just returning to their desks. Buying interest from Southeast Asia demonstrates no considerable change from pre-holiday conditions with players keeping their wait and see attitude. Starting from next week, we expect to receive better demand,” a producer source explained. Meanwhile, the producer resumed operations at its HIPS line after a turnaround and expects to reach smooth operations next week. They are running their GPPS line at 90% capacity.
An agent of another Taiwanese PS producer also noted, “Our supplier increased their offers by $10/ton to Southeast Asian countries. We expect to see a better outlook next week when more players will be back from the holiday.”