Polystyrene Weekly highlights,Aug19.

Petrotahlil:

China PS prices sink further on weak market mood. 

• Local prices at 3-year low

• Import offers heard as low as $1120/ton

• Spot styrene down 6% over 2 months

• Import ($/ton): GPPS 1135-1170 | HIPS 1235-1265 CIF

PS prices witness further drops on muted demand in SEA. 

• Import GPPS declines $20-40

• HIPS stable to $20 lower

• Sellers willing to offer further discounts in deals

• Demand from end users remains muted

• Volatile crude oil, spot styrene blur PS outlook

• Import PS ($/ton): GPPS inj. 1140-1200 | HIPS inj. 1240-1290 CIF

Italy’s PS market turns up on higher styrene for Aug. 

• Initial Aug PS offers emerge with increases of €20-50

• A few deals already concluded €30 up

• Buyers to push for rollovers in August deals

• Weak buying interest on summer period

• Local spot (€/ton): GPPS 1120-1220 | HIPS 1220-1310 FD

European PS producers seek hikes exceeding Aug SM increase. 

• PS producers announce hikes of up to €50

• A few sellers applied smaller increases in the spot market

• Overall demand is calm due to holidays

• PS prices might be revised down later in the month

• Early voices for Sept surface firmer

• Local spot (€/ton): GPPS 1170-1285 | HIPS 1270-1385 FD

Turkey’s PS market remains weak moving into Eid holiday. 

• Slowness outweighs impact of higher European styrene

• Local HIPS breaks below $1550 threshold in few cases

• Some domestic EPS makers seek hikes for Aug

• China’s import market slides further on slumping oil, SM

• Korea ($/ton): GPPS 1200-1205 | HIPS 1260-1270 CIF

• Iran ($/ton): GPPS 980-990 | HIPS 1020-1030 CPT

• Local ($/ton): GPPS 1355-1430 | HIPS 1520-1600 inc VAT

Egypt’s PS markets flat ahead of Eid holiday. 

• Lower upstream costs put more pressure on PS markets

• Buyers refrain from stocking

• Import offers unchanged on lower costs

• Distribution markets stable amid quiet activities

• Import ($/ton): GPPS 1200-1250 | HIPS 1260-1330 CIF

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