Turkey's EPS Market Eyes Recovery Ahead of August

Turkey's EPS market is showing early signs of stabilization after three consecutive months of sharp price declines. While lower production costs weighed on prices at the beginning of July, rising styrene and crude oil prices have improved market sentiment, with many participants now expecting firmer pricing in August.

July Declines Slow as Sentiment Improves

During the first half of July, white EPS prices fell significantly from June levels. Regular-grade material was assessed at $1,660–1,710/ton, while non-flammable grades traded at $1,690–1,740/ton on an ex-warehouse, cash basis.

Black and gray EPS were offered between $1,950–2,150/ton. Lower prices were mainly seen earlier in the month, but these gradually disappeared as suppliers became more confident and reduced discounting.

Rising Costs Support August Outlook

Market participants believe the recent rebound in upstream costs could lead to higher EPS prices next month. Producers reported that buying interest has remained steady despite tight financing conditions, while expectations for further price reductions have largely faded.

Converters also expect suppliers to seek price increases of up to $50/ton in August, supported by the continued strength in the styrene market and higher energy costs.

Styrene Rally Boosts Confidence

Global styrene prices have recovered strongly since late June alongside rising crude oil prices, driven by renewed geopolitical tensions in the Middle East. The rebound in feedstock costs has strengthened seller confidence and is expected to provide further support to EPS prices heading into August, although demand and seasonal factors will continue to influence the market.

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