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Irregular Indian PS shows up in Egypt at competitive prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/03/2017 (15:30)
This week, PS players in Egypt reported that an irregular Indian HIPS offer showed up in the market. A trader received an offer for this origin at $1570/ton on CIF Egypt, cash basis. The offer is well below this week’s reported offer levels for regular Asian origins, which stood at $1690-1720/ton with the same terms.

“Demand is still poor as buyers are only meeting their basic needs due to weak demand on their final products. Given the lack of support from the weakening crude oil and spot styrene market in Asia, import PS prices are expected remain soft in the near term,” commented the trader.

Currently, PS players in Egypt are taking a cautious stance due to uncertainty regarding the future market trend with some expecting the softening trend to persist in the near term due to a lack of support from the cost and demand side.
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