West European PS producer reveals August prices to Turkey
“Our new prices will be at €1180/ton ($1315/ton) for GPPS and €1230/ton ($1370/ton) for HIPS, CIF Turkey, cash. Our supplier blamed stable to firmer monomer settlements in Europe as the reason behind their modest hike request. Additionally, they will have limited availability for Turkey this month ahead of approaching summer holidays across Europe,” the trader said.
In Europe, butadiene and benzene contracts settled with increases for August while styrene settlements rolled over month over month.
The prevailing European PS offers stand at the top of the import market in Turkey considering the softening trend for dutiable and duty-free Asian PS prices. Initial South Korean prices emerged last week at $1230-1240/ton for GPPS and $1270-1290/ton for HIPS, CIF, cash no duty. These levels were to be negotiated amidst a general waiting stance among converters and traders coupled with weak crude oil prices.
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