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European PS prices for September emerge in Turkey

by ChemOrbis Editorial Team -
  • 02/09/2015 (15:52)
Traders in Turkey are reporting new September PS offers from Europe with €50-60/ton ($56-67/ton) decreases when compared to early August. However, the latest levels indicate more modest drops between €5-30/ton ($6-34/ton) with respect to late August despite the significantly lower styrene settlements in the region.

“The maintenance shutdown at our supplier did not have a visible impact on their availability during August as players across Europe were on summer holidays. However, buyers have returned to their desks and demand has picked up there, which limits the producer’s September allocation to Turkey and consequently restricted their price decreases,” a trader explained.

Currently, West European offers are voiced at €1275-1280/ton ($1428/ton with recent parity) for GPPS and €1330/ton ($1490/ton) for HIPS, CIF Turkey, cash no duty.

September styrene contracts settled in Europe at €1200/ton ($1344/ton with the recent parity) FOB NWE, a €100/ton ($112/ton) drop from the August settlement.
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