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Iranian EPS offers competitive edge in Europe

by ChemOrbis Editorial Team -
  • 22/11/2018 (10:47)
In Europe, EPS deals were closed with larger decreases than that of PS. This was because PS sellers tried to keep decrease amounts in check as opposed to the plunge in November styrene settlement.

European EPS was traded €110-150/ton below October levels to bring overall EPS ranges to €1380-1430/ton for white non-flammable and €1380-1450/ton for white regular and black/grey non-flammable grades on FD Italy, 60 days basis.

Iranian EPS retained its competitiveness, standing €130-140/ton below the low end of the European price ranges. EPS white regular grade stood at €1250-1310/ton on DDP Italy, 30/60 days basis.

A converter refused an offer for Iranian EPS white regular grade, which was €150/ton lower compared to the previous offer. The buyer said, “Despite its competitiveness, the fact that cargoes were offered in big bags made it easier for us to decide.”

Nonetheless, long lead times as well as the gloomy outlook in the midst of low season deterred most European buyers from engaging in import cargoes this month.
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