News Code : 43121

Petrotahlil :
PS buyers remain cau­tious amid further hike attempts in SEA. 
• Discounts still ob­tainable in deals 
• GPPS prices stable to $20 higher 
• HIPS sees slight reductions 
• Spot styrene up on week 
• Outlook cloudy on upstream volatility
• Import PS ($/ton): GPPS inj. 1200-1280 | HIPS inj. 1270-13­70 CIF

 

PS stable to softer in China on disappointing demand. 
• Import GPPS prices start July on a steady note 
• Import HIPS prices stable to $20 lower on week 
• Styrene on FOB Korea basis indicates weekly gain 
• Demand below expectations after G20 Summit 
• China’s May PS imports up on month
• Import ($/ton): GPPS 1180-1230 | HIPS 1280-1330 CIF

 

Initial July PS offe­rs are in line or sl­ightly below SM drop in Europe. 
• July styrene contr­acts settled €48 low­er 
• Initial offers eme­rge €30-50 down from June 
• Some producers may not concede to furt­her drops 
• Summer holidays to weaken buying senti­ment
• Local spot (€/ton): GPPS 1150-1250 | HIPS 1250-1350 FD

 

Italian PS market opens July with limited decreases. 
• SM fully agreed down by €48 
• European majors announce decreases of €30-35 
• Sellers are not optimistic about stance of demand 
• Distributors may apply larger reductions
• Local spot (€/ton): GPPS 1110-1230 | HIPS 1210-1330 FD

 

Egypt’s PS markets start July on bearish note. 
• Initial import off­ers emerge with roll­overs to slight drops 
• Local GPPS offers down by EGP300-500 
• Styrene defies str­onger crude oil futu­res 
• Buyers in a wait and see mood
• Import ($/ton): GP­PS 1205-1260 | HIPS 1290-1310

 

Import PS prices at 32-month low in Turkey. 
• Unpromising demand keeps sentiment soft
• European PS tracks SM lower, sees €30 drop 
• Domestic PS, EPS for July reflect falling costs 
• Renewed trade truce with US fail to prop up Asia PS
• Korea ($/ton): GPPS 1220-1230 | HIPS 1260-1310 CIF 
• Domestic ($/ton): GPPS 1200-1225 | HIPS 1290-1300 FCA Adana 
• Local: GPPS 1480-1530 | HIPS 1600-1650 inc VAT
 
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