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Turkey’s domestic PS, EPS markets bounce in January

by Merve Madakbaşı - mmadakbasi@chemorbis.com
  • 10/01/2020 (15:41)
PS

Domestic PS producers in Turkey sought notable increases for January on the heels of higher styrene costs in Europe and diminishing supplies. Evaporating stock pressure following their vivid sales in December gave these sellers an upper hand this month.

Accordingly, list GPPS and HIPS prices of domestic producers emerged at $1130-1170/ton and $1200-1250/ton, respectively, FCA Yumurtalik, Adana, Turkey not inc VAT. These ranges indicated increases of up to $60-70/ton compared to December.

“We enjoyed better sales during the last few months of 2019. Buyers were back to the market to stock up material once they were convinced that prices bottomed out. We will not have fresh cargos until March, while we are particularly short for HIPS,” noted a local producer.

EPS

In the EPS market, prices of domestic producers posted hefty hikes of $90-120/ton from last month. EPS white prices centered at $1220 (non-flammable) and $1190/ton (regular), all FCA Turkey, not inc VAT.

Meanwhile, buyers confirmed obtaining $20-30/ton discounts from initial price levels in case they replaced firm bids. Some deals were reported at $1190-1200/ton for non-flammable and $1160-1170/ton for regular grades.

A domestic producer stated, “EPS prices moved below GPPS in some cases last month. The end of stock clearing on the sellers’ side coupled with rising styrene contracts in Europe has now boosted the market despite low winter season.”

Regulatory change for EPS content

Meanwhile, according to a regulation issued in late November, 2019, Turkey banned the use of the flame retardant HBCD (Hexabromocyclododecane) in the production of EPS and XPS due environmental concerns. The ban immediately took effect in EPS production, while the sales of EPS consisting of HBCD will be banned starting from June this year.

Polymeric FR or pFR will be an alternative flame retardant (FR) for EPS and XPS, authorities marked.

“Turkish EPS producers who regularly export their material to Europe have already adjusted their production in line with the new requirement. A similar ban took effect in Europe a while ago. Still, they needed to deplete their old stocks at the end of 2019 with large discounts for Turkish customers,” opined a player.
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