Plunging styrene puts pressure on China’s PS market

Petrotahlil:

Plunging styrene puts pressure on China’s PS market

• Import PS prices stable to slightly softer

• Local PS prices unchanged for 2nd week 

• Spot styrene hits 2-month low in Asia 

• Demand remains limited to buyers’ needs 

• Further price reductions expected as April starts

• Import ($/ton): GPPS 1300-1330 | HIPS 1320-1400 CIF

GPPS stable, HIPS softens further in SE Asia

• Buyers cautious amid fragile sentiment 

• GPPS sees better demand than HIPS 

• Fluctuating styrene keeps buyers away 

• Styrene sees 2-month low 

• China’s PS market stable to soft

• Import PS ($/ton): GPPS inj. 1280-1360 | HIPS inj. 1320-1430 CIF

PS players voice expectations for 3-digit hikes for April SM in Europe

• March business closed €60-70 higher 

• Fundamentals remained strong 

• Spot styrene prices surge further 

• Players wait for April SM amid bullish outlook 

• Expectations for three-digit hikes for April SM prevail among players

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

Italian PS players: upward trend set to gain speed in April

• Players settle PS contract prices €60-70 higher 

• Activities almost muted amid sellers’ order book closures 

• Sentiment firms up further on rapid spot styrene hikes 

• Expectations for April SM revised from €50-80 up to €100-120 higher 

• A few sellers anticipate hefty hike targets of €130-150 for April PS

• Local spot (€/ton): GPPS 1230-1300 | HIPS 1330-1400 FD

Egypt’s import PS market rises to more than 4-month high

• Import PS offers stable to $20/ton firmer 

• Distribution market levels unchanged 

• Local sellers firm due to higher imports 

• Demand remains weak amid slow end sales

• Import PS ($/ton): GPPS 1320-1380 | HIPS 1360-1430 CIF

Korean PS dealt with smaller increases for April in Turkey

• Market mostly quiet due to nearing elections 

• Spot SM faces weekly losses in Asia, Europe 

• Korean producer trims hike goals by $20

• Distributors free from stock pressure

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

• Korea Deals ($/ton): GPPS 1380 | HIPS 1430 CIF 

• Local ($/ton): GPPS 1670-1710 | HIPS 1760-1830 inc VAT