PS stable to firm after several weeks of declines in SEA
Petrotahlil:
PS stable to firm after several weeks of declines in SEA
• Deal levels largely stabilize
• $20-30 hikes from Asian PS producers
• Demand slightly picks up after Ramadan
• Crude oil futures jump on US-Iran conflict
• Styrene erases tightness-driven hikes
China’s import PS market heads north on firm styrene
• Import PS up after seven weeks of losses
• Sellers renew confidence on high costs
• Spot styrene firm in Asia amid tightness
• Demand remains limited to buyers’ needs
• Eyes on outcome of G20 summit
July PS expectations call for a stable to slightly softer trend in Europe
• Low ends of overall price ranges down by further €20
• Thin activities amidst slack demand, comfortable supply
• Recent styrene rebound is not expected to push July SM up
• Rollovers to small decreases in July SM mostly awaited
Italian players discuss July PS outlook
• No price changes week over week
• Buyers limit fresh purchases to urgent needs
• Supply remains ample
• Early July PS expectations call for rollovers to small decreases
• Spot styrene slightly rebounds following higher prices in Asia
Egypt’s PS market preserves bearish trend
• Import PS offers down by $10-30
• Local market down by EGP400-1000
• Higher monomer costs fail to push prices up
• US exchange rate concerns dampen demand
• Players prefer to adopt wait-and-see stance
PS players at odds on July outlook in Turkey
• Market stalled ahead of Sunday elections
• Local PS, EPS see further weekly cuts
• Some players: Bearish trend may lose steam
• Firmer upstream brings import PS hikes in China
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