Southeast Asian PS concluded lower in Malaysia

Malaysian buyers reported to have received new PS offers from a major Southeast Asian producer with $30/ton reduction compared to last week, reaching $1640/ton for GPPS and $1770/ton for HIPS, all based on DAP Malaysia, LC AS term.

A buyer purchased the cargoes commented, “The upstream market is softening which might encourage more discount to come in the near term, therefore we only source a small quantity this time. Prices have been standing at high level for quite some time and we have not stocked up high inventories.”