Local PS sinks to lowest level since end 2016 in Turkey.

Local PS sinks to lowest level since end 2016 in Turkey

• Tough economy keeps PS activity unpromising 

• Locally-held GPPS slumps by $150 in a month 

• Korean producer issues $60-100 drops for July 

• Waiting mood persists on volatile SM, G20 Summit

PS sellers maintain firm stance in SEA

• Wait-and-see mood prevails ahead of G20 

• Offers stable to slightly higher on we­ek 

• Buyers: Discounts still available in deals 

• Recent styrene los­ses curtail demand 

• Players question sustainability of pri­ce hikes

PS remains firm in China despite lower styrene

• Import PS closes June on a stable to firmer note 

• Local PS posts weekly gains of CNY100-150 

• FOB Korea basis styrene erases earlier gains 

• Buying interest shows an improvement 

• All eyes locked on G20 Summit

PS sentiment remains weak, July SM await­ed in Europe

• Fresh small discou­nts visible 

• Players wrap up Ju­ne business down by €130-150 

• Stagnant activities ahead of July SM 

• July SM awaited st­able to slightly down 

• PS may slightly re­treat further in July on weak fundamenta­ls

Italian PS players: downtrend will lose steam in July

• June spot, contract business concluded €130-150 lower 

• Eyes on July SM, expectations call for rollovers to €10-30 drops 

• Players step out of the market 

• Small decreases possible in July PS on SM, demand

Egypt’s PS players have different views on July outlook

• Import GPPS down by $10, HIPS by $10-30 

• Local GPPS unchang­ed, HIPS down by EGP­300-500 

• Lower styrene costs exert further pres­sure on prices 

• Market direction unclear among players

END