European PS prices post steep drops for April in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
An agent of a West European PS producer revealed their new prices for April with steep decreases compared to March. The most recent offers stand at €1450/ton ($1547/ton with the recent parity) for GPPS and €1540/ton ($1642/ton) for HIPS, CIF Turkey, cash no duty while they represent €200/ton decreases month over month.
“Demand has been poor so far this week even after our three digit declines for PS. Turkish converters remain sidelined out of their expectations to see additional drops over the coming days,” the agent stated.
Hefty drops in PS prices were already expected as April styrene contracts settled down €275/ton ($293/ton) from March in the region early this week. Shortly after, two regional PS producers revealed decreases of €190-220/ton in their PS offers to Europe.
“Demand has been poor so far this week even after our three digit declines for PS. Turkish converters remain sidelined out of their expectations to see additional drops over the coming days,” the agent stated.
Hefty drops in PS prices were already expected as April styrene contracts settled down €275/ton ($293/ton) from March in the region early this week. Shortly after, two regional PS producers revealed decreases of €190-220/ton in their PS offers to Europe.
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