Import PS prices soften again on weak demand, lower styrene
In China, import PS prices showed a renewed downward trend as sellers’ hike attempts in the preceding week were undermined by persistently sluggish demand and plunging energy costs. Spot styrene prices on an FOB South Korea basis posted weekly declines due to lower crude oil and naphtha prices. This week, crude oil prices fell below $30/barrel in intraday trading while naphtha prices broke below $350/ton on a CFR Japan basis. “Demand remains weak as buyers are still limiting their purchases to their immediate needs ahead of the approaching holidays. We hope that demand will improve following the end of the Chinese New Year holidays. PS and ABS producers are currently selling at a loss,” commented a source from a South Korean producer. A source from a Taiwanese producer also reported, “We maintained our prices both for GPPS and HIPS while we are open to negotiations. We expect demand to pick up only after the Chinese New Year holidays while we are closely monitoring crude oil prices in order to get a clearer idea for the market outlook. Meanwhile, we are planning to shut our 100,000 tons/year plant later this month for maintenance and we will resume operations following the holidays.” Import PS prices were reported stable to $10/ton lower on the week at $1060/ton for GPPS and $20/ton lower at $1080-1100/ton for HIPS, all on a CFR China/FCA Hong Kong, cash equivalent basis. Local prices, however, followed an opposite trend, with prices rising around CNY100-200/ton ($15-31/ton) from a week earlier as some sellers attributed increases to limited styrene supply in the local market. “Local prices increased this week. However, lower energy and feedstocks costs as well as a lack of buying interest are causing buyers to take a cautious stance towards to the market. Done deals are rare,” reported a trader.
นำเข้า PS ราคานุ่มบนความอ่อนแอ สไตรีนอล่างอีกครั้งIn China, import PS prices showed a renewed downward trend as sellers’ hike attempts in the preceding week were undermined by persistently sluggish demand and plunging energy costs. Spot styrene prices on an FOB South Korea basis posted weekly declines due to lower crude oil and naphtha prices. This week, crude oil prices fell below $30/barrel in intraday trading while naphtha prices broke below $350/ton on a CFR Japan basis. “Demand remains weak as buyers are still limiting their purchases to their immediate needs ahead of the approaching holidays. We hope that demand will improve following the end of the Chinese New Year holidays. PS and ABS producers are currently selling at a loss,” commented a source from a South Korean producer. A source from a Taiwanese producer also reported, “We maintained our prices both for GPPS and HIPS while we are open to negotiations. We expect demand to pick up only after the Chinese New Year holidays while we are closely monitoring crude oil prices in order to get a clearer idea for the market outlook. Meanwhile, we are planning to shut our 100,000 tons/year plant later this month for maintenance and we will resume operations following the holidays.” Import PS prices were reported stable to $10/ton lower on the week at $1060/ton for GPPS and $20/ton lower at $1080-1100/ton for HIPS, all on a CFR China/FCA Hong Kong, cash equivalent basis. Local prices, however, followed an opposite trend, with prices rising around CNY100-200/ton ($15-31/ton) from a week earlier as some sellers attributed increases to limited styrene supply in the local market. “Local prices increased this week. However, lower energy and feedstocks costs as well as a lack of buying interest are causing buyers to take a cautious stance towards to the market. Done deals are rare,” reported a trader.
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