PS prices increase slightly in China....

Petrotahlil 

⚫PS prices increase slightly in China

• Import PS stable to $5-15 higher on week 

• SEA producer sells HIPS inj. with increases 

• Local producer’s PS offers edge up on week 

• The volatility in spot styrene continues in Asia 

• China to cut VAT for manufacturers on April 1

• Import ($/ton): GPPS 1300-1340| HIPS 1340-1400 CIF

⚫PS cautiously firms up in SEA amid unclear styrene outlook

• Import offers stable to $10-20 higher 

• GPPS demand gradually improving 

• Taiwanese producer issues $20 hikes on PS 

• Buyers resist higher offer levels 

• PS outlook blurry given fluctuating styrene

• Import PS ($/ton): GPPS inj. 1280-1360 | HIPS inj. 1340-1450 CIF

⚫Buyers’ resistance hinders PS sellers’ initial hike targets in Italy

• Increases of €50-60 start to pass on March deals 

• Margin recovery attempts fail on buyers’ resistance in the spot market 

• Fundamentals are more balanced amidst slower demand, limited supply 

• Bullish expectations for April fail to boost demand

• Import (€/ton): S. Korea HIPS 1380-1390 DDP 

• Local spot (€/ton): GPPS 1230-1300 | HIPS 1320-1400 FD

⚫Fundamentals, costs support firmer PS trend in Europe

• March deals witness hikes of €60-70 

• Sentiment remains firmer 

• Good demand amid supply limitations 

• Pre-buying activities due to firmer April outlook

• Local spot (€/ton): GPPS 1240-1340 | HIPS 1330-1440 FD

⚫Limited prompt supply keeps Turkey’s PS market firm

• Economic concerns in place ahead of elections 

• Styrene’s hike partially reflected on European PS 

• Local PS balanced on limited supply, calm demand 

• Spot SM on opposite paths in Europe, Asia

• Europe (€/ton): GPPS 1200-1225 | HIPS 1280-1300 CIF 

• Korea ($/ton): GPPS 1350-1370 | HIPS 1400-1440 CIF 

• Local ($/ton): GPPS 1660-1710 | HIPS 1760-1830 inc VAT

⚫Egypt’s local and import PS offers move in opposite directions

• Import GPPS offers stable to $10 higher, HIPS steady 

• Higher styrene cited as main factor behind firm trend 

• Local PS prices significantly down by EGP500-1000 

• Import activities start to show signs of improvement 

• USD/EGP parity supports decreases

• Import PS ($/ton): GPPS 1300-1380 | HIPS 1350-1420 CIF