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En-route cargoes put pressure on local PS prices in Turkey

by ChemOrbis Editorial Team -
  • 23/03/2015 (17:43)
In Turkey, trading activity has slowed down in the PS market as buying interest weakened despite tight supply in the import market, according to players. Local prices mostly followed a stable to softer trend over the past week as en-route cargoes exerted downward pressure on prices, which may cause prices on the high end to fade away in the upcoming weeks.

Prices for locally held cargoes were reported stable for GPPS at $1675-1800/ton and $40/ton softer for HIPS at $1800-1860/ton all ex-warehouse, cash inc VAT while offers for en- route cargoes, meanwhile, are currently being offered as low as $1650/ton for GPPS and $1725/ton for HIPS.

A packaging maker said that GPPS availability is now sufficient in the local market and offers above $1700/ton are not realistic as much lower levels are obtainable.

A distributor also added, “Demand and supply are almost balanced. If demand picks up, prices may again see bubbles. However, there are cargoes arriving in the first half of April, which may weigh down on prices near the high ends of the current ranges.”
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