A Chinese PS producer informed SSESSMENTS.COM that the company found support to adjust prices through the scheduled maintenance shutdown at one of the PS producers in the country. On a weekly comparison, the producer increased local offers for GPPS Injection and HIPS Injection by CNY200/ton ($29/ton). Aside from maintenance shutdown from another PS producer, the producer got the confidence to increase prices as there is no inventory pressure on their end at the moment. Demand-wise, the producer revealed that demand for PS in July is slowing down as compared to the demand in June. Nevertheless, essential demand exists and lends support to the China PS market from a free-fall.
Looking ahead, the producer expects PS prices to experience slight fluctuations. Citing any actions that are expected to be taken by the European and US leaders to maintain the crude oil prices from any decreases amidst the global economic downturn, as well as the balance of supply and demand condition, PS prices in China are expected to only fluctuate within a limited range, SSESSMENTS.COM was told.
