Taiwanese GPPS offer records increases in Egypt

Published: 20 Nov 2009 01:28:44 PST

In Egypt, supported by $50/ton higher spot styrene prices at $1095/ton on FOB Korea basis, Taiwanese GPPS prices recorded increases. Last week, this particular origin was reported in the range of $1240-1270/ton on CIF Alexandria, cash basis. However, this week a trader reported receiving offers from his Taiwanese supplier at $1300/ton with the same terms. This price level indicates a $30-60/ton increase over last week’s offers reported from the country.

However, the trader reported that they have not offered this price in the market yet as they acknowledge the fact that the price level is too high to see acceptance from buyers, who are not in a rush to purchase amidst weak demand. However, other Asian offers, namely Singaporean origin, remained mostly stable at $1250-1260/ton with the same terms during this week.