Turkey launched a probe into Egyptian polystyrene exports in November after Eastchem, Turkey's sole polystyrene producer, filed an antidumping complaint amid a sharp rise in exports from Egyptian Styrenics. If the case is proved, the Turkish government could impose a surcharge of US$40-50/mt on current Egyptian offer prices in Turkey, as per traders.
The ongoing antidumping investigation in Turkey has cooled local converters' interest in Egyptian polystyrene and sent spot prices higher as consumers turn increasingly toward Asian and European imports to restock as per sources in Platts.
Offers of polystyrene from the Indian subcontinent and Southeast Asia were seen at US$1200-1240/mt CFR Turkey, including the duty, according to traders, while European spot polystyrene prices are hovering around Eur 1125/mt (around US$1280/mt) FD NWE. Low stockpile levels have ensured good demand. Spot prices in Turkey dipped to US$1130/mt in January after a steady decline throughout Q4-2014.
20-Feb-15 
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