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West European PS prices emerge with hefty hikes in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/03/2015 (17:47)
In Turkey, initial West European PS offers emerged with three digit hikes following the €175/ton ($196/ton) higher styrene settlements in the region. A trader offering on behalf of a regional supplier voiced his new offers at €1300-1310/ton ($1456-1467/ton) for GPPS and €1340-1350/ton ($1501-1512/ton) for HIPS, CIF Turkey, cash no duty. Those levels represented increases of €190/ton for GPPS and €140-150/ton for HIPS from the last February deals.

“We did not expect such a huge increase in styrene contracts following the modest gain in benzene settlements for March. Our prices rose by almost €200/ton given persistent supply limitations from our supplier and we may be more expensive than other origins now. We will wait to see buyers’ response and new prices from other European sources,” the trader commented.

Meanwhile, a trader of another West European producer reported that he has not received new PS offers from their supplier yet. However, he expects their supplier to reveal similar levels as the initial announcements from the region soon.
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