News Code : 43152

Petrotahlil :

PS market moves back up in China

• Import PS posts weekly increases of up to $20 

• Local PS stable to CNY50 higher on week 

• Demand remains limited to buyers’ needs 

• Styrene on FOB Korea basis largely steady on week 

• WTI crude reaches seven-week high

• Import ($/ton): GPPS 1200-1245 | HIPS 1290-1350 CIF

 

Spread between HIPS and GPPS widens in Southeast Asia

• Import GPPS offers stable to $10-20 softer 

• HIPS tracks stable to $20 firmer trend 

• Price hikes in ABS market support HIPS sentiment 

• Spot styrene stable on week 

• Demand remains limited to buyers’ needs

• Import PS ($/ton): GPPS inj. 1200-1270 | HIPS inj. 1270-1390 CIF

 

PS sellers revise initial offers down to entice demand in Italy

• Decreases of up to €80 start to pass on deals 

• Distributors apply larger drops due to sales pressure 

• Demand slightly improves on low PS prices

• Market may hit the bottom in July

• Local spot (€/ton): GPPS 1080-1190 | HIPS 1200-1300 FD

 

European players: PS may hit the bottom in July

• July deals closed €30-50 lower 

• Supply remains higher than demand 

• Sellers struggle to conclude deals 

• Players: July may be the last month of downtrend for PS

• Local spot (€/ton): GPPS 1150-1250 | HIPS 1250-1350 FD

 

Holidays weigh further on PS demand outlook in Turkey

• PS prices down further on week 

• Import prices remain near 32-month low 

• Monthly drop in Italy’s PS market exceeds that of styrene 

• Crude bullish, styrene stable to firm in Asia, Europe 

• Demand remains lousy 

• Holidays continue to cast a shadow on demand outlook

• Europe (€/ton): GPPS 1030-1060 | HIPS 1120-1150 CIF 

• Local: GPPS 1480-1500 | HIPS 1600-1650 inc VAT

 

Egypt’s import PS market shifts direction

• Import offers up by $15-50 

• Distribution market steady to down by EGP200 

• Trading activities remain lackluster 

• Recent styrene gains support firmer sentiment

• Import PS ($/ton): GPPS 1220-1280 | HIPS 1290-1360

 

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