Global Pricing Briefs from Polymerupdate.com-GPPS and HIPS prices in Asia adjust down

PS demand took a beating in the Asian markets in late January, weighing on regional spot offer prices. Many sellers were forced to reduce their rates in an effort to keep buying interest ticking. GPPS and HIPS offers in South East Asia slipped about $10/tonne to levels near $1440/tonne CFR and $1480/tonne CFR respectively. Suppliers of PS in the Far East, though, remained reluctant to match these low prices, insisting that firm SM feedstock numbers would not allow for reductions. Demand is not expected to rise in the next weeks due to Lunar New Year in China.