West European PS producer issues rollovers to Turkey
The initial offer levels are standing at €1270-1280/ton for GPPS and €1360-1370/ton for HIPS, both on a CIF Turkey, cash no duty basis. The dollar equivalences of these levels come to around $1500-1511/ton and $1606-1618/ton, respectively while their competitive power is hampered by the record high €/USD parity that almost hit 1.18 this week.
Prior to the announcement, the August styrene contracts settled down €30/ton in Europe. Spot styrene costs in the region, however, jumped $120/ton (€102/ton) week over week amidst steady increases that occurred for the most part of this week.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Upcoming holidays, COVID spike pressure PS in Asia
- Shortage pushes Europe’s ABS markets to multi-year highs
- Longest-ever rally staggers in Turkey’s PVC market
- Upstream keeps China PET afloat; prices hit 11-month high
- Import PVC uptrend loses momentum in Asia; is the 9-month rally coming to an end?
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use