New European PS prices emerge in Turkey
“We revealed our November offers with rollovers. We received a few inquiries which we think we will be able to convert to sales, albeit for limited tonnages," a trader offering on behalf of a West European producer stated. He attributed stable styrene contracts to stronger spot styrene costs. “However, December contracts may fall if energy costs remain on a bearish path,” he predicted.
A distributor of another regional producer thinks that European PS may provide a competitive option for buyers this month. “Our producer rolled over for November given the unchanged styrene settlement in Europe. Producers are not willing to let the market move down. We may see some buying interest for our materials since players are not showing much interest for long distance cargos in anticipation of more price cuts while the euro/dollar parity is also favorable at 1.25.”
Meanwhile, a converter commented that the latest European prices are not workable at all. “Chinese and Far East Asian markets are constantly falling given the decreasing energy complex. Buyers who are active in the disposables and insulation markets are about to enter the low winter season.”
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