Polystyrene Weekly highlights.

Petrotahlil:

PS import prices in China track local market lower

• Styrene slightly rises on week 

• Import prices flat to lower 

• Local prices weak on poor demand 

• Market mood to remain cautious

• Import ($/ton): GPPS 1180-1230 | HIPS 1270-1335 CIF

Rising styrene fails to prevent price cuts in SEA’s PS market

• Import market stable to softer 

• Spot styrene firms up on lower supplies in China 

• Sellers disappointed by demand from converters 

• Additional discounts obtainable in done deals

• Import PS ($/ton): GPPS inj. 1180-1260 | HIPS inj. 1270-1350 CIF

PS players express stable to firmer expectations for Aug SM in Italy

• PS prices see further small drops w-o-w 

• Demand revived a bit on low prices 

• Some buyers skipped purchases due to comfortable stocks 

• Aug SM awaited, expectations are stable to firmer

• Local spot (€/ton): GPPS 1070-1180 | HIPS 1170-1280 FD

Will PS downtrend see a halt in August in Europe?

• Demand remains flat 

• Some suppliers conceded to €50 discounts 

• Voices of probable upturn for Aug PS prices emerge 

• Buyers skeptical about possible hikes on PS prices 

• Expectations for SM call for limited increases

• Local spot (€/ton): GPPS 1150-1240 | HIPS 1250-1340 FD

Mediocre demand sends import PS to 4-year low in Turkey

• Central Bank slashes interest rates 

• Korean PS sees discounts from initial Aug levels 

• Local PS breaks below new thresholds

• Korea ($/ton): GPPS 1200-1220 | HIPS 1260-1300 CIF 

• Iran ($/ton): GPPS 990-1000 | HIPS 1060-1070 CPT 

• Local ($/ton): GPPS 1380-1470 | HIPS 1580-1630 inc VAT

Local PS prices fail to stabilize in Egypt

• Import PS offers down by $10-20 

• Local offers steady to EGP200-500 softer 

• Recent drops attributed to weaker styrene 

• Players cautious about August PS outlook

• Import PS ($/ton): GPPS 1210-1260 | HIPS 1270-1330

END