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West European PS prices for August surface in Turkey

by ChemOrbis Editorial Team -
  • 05/08/2015 (09:49)
In Turkey, an agent of a West European PS producer reported their initial August offers this week. The trader’s new prices indicate €20-30/ton ($22-32/ton with recent parity) decreases from their most recent July levels and stand at €1330/ton ($1436/ton) for GPPS and €1390/ton ($1501/ton) for HIPS, all CIF Turkey, cash no duty.

“Our supplier has not informed us about their stock status. They will decide as to whether or not to make further adjustments on their prices based on their availability," he opined.
Last week, the agent had voiced his sell ideas with decreases, blaming depressed activity in Turkey given political unrest, although he said, “We do not think that any drastic falls are likely considering the lower euro/USD parity.”

The announcement followed August styrene contracts that settled at €1300/ton ($1404/ton with the recent parity) on an FOB NWE basis early this week, down €25/ton ($27/ton) on the month. Prior to the styrene settlement, the new benzene contract settled at €779/ton ($841/ton) CIF ARA, down €13/ton ($14/ton). Spot styrene prices in Europe were down $35/ton week over week to be reported at around $1275/ton FOB NWE.
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