Players: HIPS users mull switch to ABS given narrowing price gap in Asia
According to data from ChemOrbis Price Index, the gap between import ABS and HIPS prices on a CFR China basis posted a decrease of around $283/ton compared to the beginning of March, when ABS prices carried the largest premium over HIPS recorded in the last year.
A source from a Taiwanese producer commented, “GPPS prices remained stable this week while HIPS prices witnessed some downward adjustments as they face pressure from import ABS prices, which continued to follow a softening trend.”
In Southeast Asia, a similar situation was observed. Data from ChemOrbis Price Index showed that the gap between import ABS and HIPS prices on a weekly average basis shrank by around $95-100/ton when compared to late September to stand at $50/ton last week. In January, import ABS prices were carrying a premium of around $395/ton over HIPS prices, according to ChemOrbis data.
A source from a Southeast Asian producer commented, “We are more willing to give discounts for HIPS than GPPS as the narrowing gap between ABS and HIPS is exerting pressure on our HIPS business.”
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