Polystyrene Weekly highlights.
Petrotahlil:
PS import prices in China track local market lower
• Styrene slightly rises on week
• Import prices flat to lower
• Local prices weak on poor demand
• Market mood to remain cautious
• Import ($/ton): GPPS 1180-1230 | HIPS 1270-1335 CIF
Rising styrene fails to prevent price cuts in SEA’s PS market
• Import market stable to softer
• Spot styrene firms up on lower supplies in China
• Sellers disappointed by demand from converters
• Additional discounts obtainable in done deals
• Import PS ($/ton): GPPS inj. 1180-1260 | HIPS inj. 1270-1350 CIF
PS players express stable to firmer expectations for Aug SM in Italy
• PS prices see further small drops w-o-w
• Demand revived a bit on low prices
• Some buyers skipped purchases due to comfortable stocks
• Aug SM awaited, expectations are stable to firmer
• Local spot (€/ton): GPPS 1070-1180 | HIPS 1170-1280 FD
Will PS downtrend see a halt in August in Europe?
• Demand remains flat
• Some suppliers conceded to €50 discounts
• Voices of probable upturn for Aug PS prices emerge
• Buyers skeptical about possible hikes on PS prices
• Expectations for SM call for limited increases
• Local spot (€/ton): GPPS 1150-1240 | HIPS 1250-1340 FD
Mediocre demand sends import PS to 4-year low in Turkey
• Central Bank slashes interest rates
• Korean PS sees discounts from initial Aug levels
• Local PS breaks below new thresholds
• Korea ($/ton): GPPS 1200-1220 | HIPS 1260-1300 CIF
• Iran ($/ton): GPPS 990-1000 | HIPS 1060-1070 CPT
• Local ($/ton): GPPS 1380-1470 | HIPS 1580-1630 inc VAT
Local PS prices fail to stabilize in Egypt
• Import PS offers down by $10-20
• Local offers steady to EGP200-500 softer
• Recent drops attributed to weaker styrene
• Players cautious about August PS outlook
• Import PS ($/ton): GPPS 1210-1260 | HIPS 1270-1330
END