News Code : 42581

Petrotahlil:
Improving demand keeps GPPS prices stable in SE Asia
• Most sellers sold out their March allocations 
• Styrene slightly up on week despite volatility 
• Firm crude oil futures support sentiment
• Demand towards GPPS remains good 
• Buyers’ resistance puts pressure on HIPS
• Import PS ($/ton): GPPS inj. 1280-1360 | HIPS inj. 1320-1450 CIF

 

Import GPPS and HIPS track different paths in China
• Import GPPS prices largely stable on week 
• Import HIPS prices down $20 on week 
• Local PS prices follow a steady trend 
• Styrene indicates a weekly increase in Asia 
• Crude oil futures reach almost 5-month high
• Import ($/ton): GPPS 1300-1345| HIPS 1320-1405 CIF

 

Surging costs hint at fresh PS increases in Europe for April
• Spot styrene prices rose by 9% since early March 
• Fresh March deals see increases of mostly €60-70 
• Sentiment remains firmer amid stronger costs 
• April SM is expected to settle up by €50-80
• Local spot (€/ton): GPPS 1240-1340 | HIPS 1330-1440 FD

 

PS players discuss April outlook amid firmer sentiment in Italy
• No major changes on prices week over week 
• Activities slowed down 
• Limited supplies do not affect the market on slower demand 
• Expectations for April SM are €50-80 higher
• Local spot (€/ton): GPPS 1230-1300 | HIPS 1330-1400 FD

 

Import HIPS offers slightly increase in Egypt
• Import GPPS offers stable, HIPS firmer by $10 
• Import market finds support from stronger styrene costs 
• Sellers open to negotiations amid weak activities 
• Local PS prices remain unchanged week over week 
• Demand remains limited due to tight liquidity
• Import PS ($/ton): GPPS 1300-1380 | HIPS 1350-1430 CIF

 

PS players adopt cautious stance ahead of elections in Turkey
• Eyes on USD/TRY parity 
• PS demand muted in pre-election period
• Korean producer seeks $50 hikes for April 
• Styrene up on week in Asia, Europe
• Europe (€/ton): GPPS 1200-1225 | HIPS 1280-1300 CIF 
• Korea ($/ton): GPPS 1350-1400 | HIPS 1420-1450 CIF 
• Local ($/ton): GPPS 1660-1710 | HIPS 1760-1830 inc VAT

 

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