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Local PS, ABS markets ease back in Turkey

by ChemOrbis Editorial Team -
  • 26/09/2016 (15:03)
In Turkey, the locally-held PS market lost some ground over the week as distributors failed to achieve their firmer price goals mainly due to disappointing post-Eid demand. Overall, GPPS prices were down $20/ton on the low end at $1440-1540/ton while the HIPS level dropped $20-30/ton to $1470-1540/ton, both on ex-warehouse Turkey, cash inc VAT basis.

“Activity lagged behind expectations after the holiday which weakened sellers’ hand. That’s why the market erased its previous gains,” a distributor reported. “Demand did not change after holidays although sellers tried to obtain higher price levels. There are still competitive Iranian materials which kept buying interest very thin for our cargos,” another stated.

Similarly, the local ABS market experienced muted buying appetite right after holiday. ABS natural prices softened $10/ton on the low end to $1420-1500/ton ex-warehouse Turkey, cash not inc VAT. Some players expect the prices at the upper end to see some corrections if buying interest remains thin.

A distributor commented, “Prices at or close to the $1500/ton threshold were not proved workable amidst the persistence of more competitive levels. The rumor is that a buyer purchased some ABS natural slightly below $1400/ton, although this was probably a specific case from a seller who needed to get rid of his stocks.”
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