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Asian PS prices note hefty drops for April in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 31/03/2017 (16:18)
In Turkey, new import PS prices from Asia emerged with notable decreases this week. Sliding upstream costs throughout March already boosted bearish PS expectations for the second month in a row.



Source: ChemOrbis Price Wizard

Two South Korean PS producers returned to the market with lower PS offers. Currently, Korean GPPS prices are at $1500-1550/ton CIF Turkey, cash no duty, while HIPS offers stand at $1560-1570/ton. The ranges respectively indicate decreases of $50-60/ton and $100-170/ton when compared to March.



Source: ChemOrbis Price Wizard

The origins that are subject to 3% customs duty were priced below March as well. Overall, GPPS prices are reported at $1440-1510/ton, while HIPS offers stand at $1540-1580/ton, CIF Turkey, cash. “These offers are still well inflated even after the recent reductions based on the most recent prices in China. We are not planning to buy any material at the present,” noted manufacturers. According to ChemOrbis Price Indexes, Turkey carries a premium of $155-165/ton over PS prices in China.

Although spot styrene prices in Asia displayed a rebound over the week thanks to slightly firming crude oil prices, they remain at 4 month-lows, according to ChemOrbis Price Wizard and still represent a cumulative drop of around $185/ton from early March levels on FOB Korea basis. Spot butadiene prices nosedived by $1250/ton with the same terms compared to the beginning of March with the same terms.
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