News Code :
42581
Improving demand keeps GPPS prices stable in SE Asia
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
