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Malaysian PS provides a competitive edge in Turkey

by ChemOrbis Editorial Team -
  • 14/08/2015 (18:35)
The free trade agreement (FTA) which was signed between Turkey and Malaysia on April 17, 2014 in order to increase mutual trade went into effect as of August 1, 2015. With immediate effect, a number of polymers including PS became subject to zero tariffs. Now, Malaysian HIPS provides a competitive edge in Turkey’s PS market with previously secured materials starting to show up at competitive levels in the locally-held market this week.

Import Malaysian HIPS was offered between $1350-1400/ton CIF Turkey, cash no duty this week. The range is down by $130/ton on the low end and $80/ton on the high end when a weekly comparison is made. The localization cost of these cargos come to roughly $1630-1685/ton ex-warehouse Turkey, cash inc VAT without distributors’ margins. The low end of this cost range is slightly above South Korean HIPS available at $1340/ton CIF, cash no duty, which also plunged $85/ton from last week. Nonetheless, offers for Malaysian origins are well below dutiable Asian origins, whose landed costs come to around $1700/ton inc VAT.

Recently, Malaysian HIPS materials that were secured during July before the elimination of customs duty on this origin started to be offered in Turkey’s locally-held HIPS market. These prices are reported at $1800-1820/ton inc VAT and forms the low end of the prevailing overall range at $1800-1870/ton for the product.

According to ChemOrbis Import Statistics, Turkey already imported more than 400 tons of Malaysian PS in the first five months of 2015, which equals the figure for the whole year of 2014.

To track Turkey’s imports by country, please click here (For members only)
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