A source in China reported that a leading Thai producer has tabled its latest high impact polystyrene (HIPS) Injection grade offer to the Chinese market, with pricing heard at USD 1180/mt on a CFR China main port basis for September 2025 shipment.
Market participants note that the offer comes against a backdrop of cautious sentiment in the Asian polystyrene sector, where downstream demand has remained uneven across packaging, appliances, and consumer goods segments. While Chinese converters have seen some recovery in operating rates following the summer slowdown, buyers remain highly sensitive to price direction given volatility in upstream styrene monomer values.
The USD 1180/mt offer reflects the Thai producer’s attempt to strike a balance between maintaining competitiveness in a supply-heavy market and covering production costs amid fluctuating feedstock prices. Industry observers highlight that with styrene monomer prices recently stabilizing in the region, sellers are keen to test higher price ideas, though actual transaction levels will depend heavily on buyer acceptance in the coming weeks.
China continues to be the largest importer of HIPS in Asia, making it a key destination for regional producers seeking to offload volumes. However, competition from domestic Chinese suppliers and from other regional exporters may limit the producer’s ability to secure significant price premiums. Traders suggest that further negotiations could emerge, particularly if downstream demand fails to pick up pace as the peak manufacturing season approaches.
The September shipment timeline gives buyers some flexibility in assessing inventory needs, but sentiment will likely hinge on whether styrene costs and crude-linked market dynamics remain supportive. For now, the Thai producer’s move provides an early benchmark for HIPS pricing discussions in China for the month ahead.
