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Initial European PS prices emerge with large drops in Turkey

by ChemOrbis Editorial Team -
  • 07/01/2015 (17:13)
January PS prices from Europe have started to emerge with large decreases from last month in Turkey, even though initial drops lagged behind the hefty drop in the styrene contracts.

A trader offering on behalf of a West European producer announced their initial offers at €1120/ton ($1325/ton) for GPPS and €1180/ton ($1396/ton) for HIPS CIF Turkey, cash no duty. These most recent prices indicated €160-170/ton ($189-201/ton) decreases in the spite of €290/ton lower styrene contract settlements. Meanwhile, butadiene contracts settled €100/ton lower for January.

“We are not offering very actively as these initial prices may change in accordance with post-holiday demand and the situation in Europe. Meanwhile, if conditions improve, our supplier may not provide much material to Turkey this month as they are just resuming production after a shutdown that started on December 22. The lower euro/USD parity at 1.18 may help regional sellers to limit their discount amounts compared to styrene, but this will depend on supply and demand dynamics,” the trader stated.

Spot styrene prices in Europe were down by around $135/ton on an FOB NWE basis on the week while spot butadiene costs also plunged $140/ton on an FD NWE basis over the same period.
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