News Code : 43016

Petrotahlil:

Aggressive local PS offers fail to buoy activity in Turkey

• Domestic PS producers issue $50-60 cuts 

• Buying appetite unresponsive to rapid falls 

• Turkey’s April PS, EPS imports up on month 

• Local GPPS lowest in 5 months, HIPS at 2.5-year low 

• China’s import market sinks to 2-year low

• Turkish ($/ton): GPPS 1240-1250 | HIPS 1300 FCA Adana 

• Korea ($/ton): GPPS 1280-1300 | HIPS 1330-1360 CIF 

• Local ($/ton): GPPS 1530-1630 | HIPS 1640-1700 inc VAT

 

Falling orders keep PS prices on downward track in SEA

• GPPS sees decreases of up to $40 

• HIPS tracks stable to softer trend 

• Spot styrene down on week 

• Holiday lull in Malaysia, Indonesia 

• Trade war concerns continue 

• Weaker oil futures affect sentiment

• Import PS ($/ton): GPPS inj. 1210-1260 | HIPS inj. 1290-1350 CIF

 

Lower costs reinforce downward trend for PS in China

• Import GPPS falls further by $10 on both ends 

• Import HIPS posts additional losses of $10-20 

• Buying sentiment bearish on rising trade war 

• Spot styrene indicates a weekly decrease in Asia 

• Crude oil futures hit lowest level since Jan

• Import ($/ton): GPPS inj. 1200-1240| HIPS inj. 1270-1330 CIF

 

Initial June PS prices see three-digit decreases in Europe

• SM fully agreed €143 lower for June 

• Hefty drops of €105-140 announced for PS 

• Most buyers prefer to wait and see 

• Fundamentals are weak amidst ample supply, slow demand 

• Sellers expect better buying appetite in the days ahead

• Local spot (€/ton): GPPS 1220-1330 | HIPS 1310-1430 FD

 

Italy’s PS market turns down in June following SM plunge

• June SM settled down by €143 

• European majors announce decreases of €105-145 

• Distributors reveal decreases of €120-140 from May 

• Sharp price reductions fail to stir buying interest so far 

• Sellers’ stocks are still high

• Local spot (€/ton): GPPS 1170-1280 | HIPS 1260-1380 FD

 

Egypt’s PS markets down on frail demand

• Import GPPS, HIPS offers down by $10-40 

• Local GPPS, HIPS prices also down by EGP400-1500 

• Waning demand blamed for recent decreases 

• Buyers adopt wait-and-see stance

• Import PS ($/ton): GPPS 1290-1310 | HIPS 1350-1360

 

END

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