Türkiye EPS market closing 2025 with higher prices

Domestic EPS prices extended their gains into the final month of 2025, as supportive styrene costs encouraged suppliers to implement more visible hikes in December following signs of recovery in November after months of bearishness. The market recorded a notable upswing in December, underpinned by a higher styrene contract and resilient spot styrene prices in Europe, while resin demand also remained supportive despite year-end book closures.

Increases speed up on the back of a relatively limited supply

Domestic white EPS was assessed $80/ton higher at $1,330–1,370/ton for regular grades and $1,360–1,400/ton for non-flammable grades, ex-warehouse Türkiye equivalent, cash, excluding VAT.

Local black/gray grades were reported visibly higher on the month at $1,750–1,800/ton FD, cash, excluding VAT. Within this range, distributors also offered locally held European cargos with monthly hikes.

In addition, a planned turnaround at a domestic producer lent further support to the bullish sentiment as the end of 2025 rapidly approached.

Eyes on Brent oil as prices pare losses on US-Venezuela tension

Crude oil benchmarks fluctuated over the past month, with Ukraine–Russia peace talks briefly pushing Brent below the $60/bbl threshold by mid-December before prices rebounded amid escalating US enforcement of a blockade targeting Venezuela’s oil trade.

FOB NWE styrene prices have risen by around $40/ton from a month earlier, supported by active trading and firmer spot benzene prices. In Asia, styrene values hovered at $800–810/ton on a CFR China/FOB Korea basis, remaining broadly stable compared with four weeks ago at the time of writing.

As a notable development, US-based Westlake approved a plan to permanently shut down several of its North American facilities amid persistently challenging conditions in the global commodity chemicals market. The closures, scheduled for December, include its styrene monomer (SM) plant in Lake Charles, Louisiana, with a capacity of around 260,000 tons/year. Despite this, FOB USG styrene prices were unfazed at the time of writing, pointing to a $50/ton decline from a month earlier.

Players see fresh hikes likely in early 2026 on seasonal hopes

A manufacturer commented, “EPS may preserve its strength into early 2026, supported by current styrene prices. We could see a more solid hike in February.” He added, “Retailers’ engagement period starts in mid-Q1, while the construction season begins in March. These factors may support demand. Looking back over the past decade, EPS prices have risen every February and March.”

Sellers also expect renewed EPS price increases in January amid potentially higher utility costs for domestic EPS producers, although volatile Brent futures have raised some concerns about the trajectory of styrene markets in the medium term.

Still, the January benzene contract settled at €660/ton ($773/ton with the recent parity) FD NWE, up by €30/ton ($35/ton) when compared to December, leading to firm projections about the imminent styrene outcome in the region, where players were set to celebrate Christmas.