European PS prices retreat further for July in Turkey
This week, West European GPPS and HIPS prices posted additional drops of €40-70/ton ($45-78/ton), bringing the recent levels to €1330-1360/ton ($1423-1590/ton) and €1420/ton ($1590/ton), CIF Turkey, cash, respectively.
A converter, meanwhile, expressed his buy idea as low as €1300/ton for GPPS given his bearish expectations for the coming days. Most buyers are not in need of urgent material considering the Ramadan lull in their business and they prefer to adopt a wait and see stance for now, while sellers confirm muted activity.
In Italy, distributors are seeking €80-85/ton decreases on the month for PS after initially announcing €65/ton drops for July last week.
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