Indian PS producer issues significant Dec drops to Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s import PS prices followed a bearish trend since September, while the market sank to an almost 2-year low by mid-November. Offers have extended their losses into the fourth month in a row with initial December PS prices emerging lower month over month.
Accordingly, an Indian producer revealed drops of $140/ton for GPPS and HIPS when compared to their last November offers. Indian cargoes for the new month were offered at $1230/ton for GPPS and $1280/ton for HIPS, all CIF Turkey, subject to 6.5% customs duty, cash.
A company source blamed falling spot styrene prices in Asia as well as pressure from competitive local PS offers in Turkey as the seasons behind their decision. According to the weekly average data from ChemOrbis Price Wizard, spot styrene prices dipped to around $972/ton on an FOB Korea basis.
Accordingly, an Indian producer revealed drops of $140/ton for GPPS and HIPS when compared to their last November offers. Indian cargoes for the new month were offered at $1230/ton for GPPS and $1280/ton for HIPS, all CIF Turkey, subject to 6.5% customs duty, cash.
A company source blamed falling spot styrene prices in Asia as well as pressure from competitive local PS offers in Turkey as the seasons behind their decision. According to the weekly average data from ChemOrbis Price Wizard, spot styrene prices dipped to around $972/ton on an FOB Korea basis.
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