European PS prices for July start to emerge in Turkey
July styrene contracts settled with a decrease of €85/ton ($94/ton) from June at €1325/ton ($1472/ton) FOB NWE on Wednesday. Prior to the styrene settlement, an initial July benzene contract settled at €792/ton ($881/ton) FD NWE, up €85/ton ($95/ton) from June.
“We hope to see better demand after our price cuts. Some companies delayed their decreases to August hoping that prices may not fall that much during July and that they can hold their price levels to some extent during the summer holidays in Europe,” the trader opined. The trader added, “If spot styrene retreats in the region, we might see additional discounts from initial July levels later in the month," he said.
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