Firming prices, improved sales lead to higher PS offers by overseas producers to China

14-Apr-10
Two overseas producers have increased new PS offers to the Chinese market this week, citing firming market prices and improved sales as the reasons for their price hikes, as per Chemorbis. A producer from Taiwan announced an increase of US$30/ton on their offers to China this week, bringing their new prices to $1440/ton for GPPS and to $1530/ton for HIPS, CFR China, cash basis. The producer plans to maintain offers at their new levels for the near term. A global producer announced an increase of US$20-30/ton on offers for Hong Kong PS this week, to US$1500/ton for GPPS and US$1570/ton for HIPS, both on CFR China, cash basis. The producer predicted that prices would not record any further increases over the near term as their customers have not responded positively to their latest price increase.
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