Korean PS suppliers seek increases in Turkey
Following the recent announcements, the prevailing South Korean price ranges are now standing at $1445-1470/ton for GPPS and $1515-1550/ton for HIPS, CIF Turkey, cash no duty. These levels suggested increases of $50/ton and $30/ton, respectively. “Our Korean supplier informed us that these prices are for January shipments as they will not be able ship any material in December to Turkey amidst their limited availability,” reported a trader.
PS traders in Turkey refrained from replacing much stock during the bearish trend that was in place between the middle of September and the middle of November as low end-product demand and the year-end sluggishness weighed down on the market. Meanwhile, by mid-November, Indian and Iranian sources pioneered hikes in the import market, the first time after 2 months, citing firmer styrene.
“We found the latest prices from Korea unworkably high considering the fact that Iranian cargos are still offering a more competitive edge in the market. Nonetheless, we are aware that we may face some supply constraints by the new-year,” a trader commented.
Turkey’s import PS markets were trading below China since the middle of October up until very recently, when prices have moved back on par with China’s import market owing to the hike requests from PS makers to Turkey.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PET bottle fails to salve pandemic wounds; challenges mount as autumn begins
- Can LDPE uptrend hold in Asia?
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness