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.
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