Polystyrene Weekly Highlights, July 14.
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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