Asian PS prices record reductions for August in Turkey
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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