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Asian PS prices record reductions for August in Turkey

by ChemOrbis Editorial Team -
  • 07/08/2015 (12:25)
Steadily falling upstream costs pushed dutiable Asian PS offers lower in Turkey this week. The trend was in line with the price cuts which occurred in China and Southeast Asia. Spot styrene costs decreased by another $60/ton this week while butadiene costs lost $20/ton on an FOB South Korea basis driven by falling crude oil prices, which settled below the $45/bbl threshold on the NYMEX on Thursday.

Source: ChemOrbis Price Wizard

Indian offers are now reported at $1340/ton for GPPS and $1390/ton for HIPS, CIF Turkey, subject to 3% customs duty, cash. These levels represent decreases of $60-80/ton from the late July levels. There are also market rumors of deals below these initially announced levels.
Similarly, Pakistani offers emerged $50/ton lower at $1400/ton for GPPS and $1475/ton for HIPS CIF Turkey, subject to 3% customs duty, cash. These offers are still considered unworkable by players.

In China, import PS prices witnessed additional decreases of $15-20/ton after hitting a three month low at the start of the week. Players attributed fresh PS drops to lower energy costs and limited demand. In Southeast Asia, a Taiwanese producer lowered their PS prices by $40-50/ton blaming slow demand and declining feedstock costs. The producer hopes to see improved buying interest in September.
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