West European PS producer issues rollovers to Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
According to a trader, a West European PS producer revealed its August prices with rollovers to Turkey. This was in line with steady price announcements for PS across Europe earlier this week.
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.
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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