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European PS prices appear higher for June in Turkey

by ChemOrbis Editorial Team -
  • 03/06/2016 (14:14)
Initial European PS prices surfaced this week in Turkey, with new June offers for a West European origin indicating visible hikes. The increase announcement followed rising styrene contracts for this month. Plus, supply in the region is considered to be limited given an extended force majeure at Total’s PS plants at Carling and Gonfreville in France.

June styrene contract settled with a €60/ton ($67/ton) increase from May at €1180/ton ($1315/ton with recent parity) FOB NWE at the beginning of June.

An agent of a West European PS manufacturer reported, “We received €80/ton hikes from our supplier for the month. As activity is not brisk in Turkey, we prefer not to be very active until we hear prices from other regional suppliers. We hope to conclude some sales in the days to come if the euro/dollar parity becomes more favorable for us.”

Initial prices from the distributor are at €1300/ton for GPPS and €1360/ton for HIPS, CIF Turkey, cash no duty. The dollar equivalences of those levels come to $1448/ton and $1515/ton, respectively.

PS prices from Asian producers have been on a downwards trend for various origins since the middle of April in line with falling styrene costs in the region.
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