19 March 2008 08:26 [Source: ICIS news]
By Prema Viswanathan and Brian Myung
SINGAPORE (ICIS news)--South Korea’s exports of polystyrene (PS), polyvinyl chloride (PVC) and polypropylene (PP) to Iran and Turkey are expected to stabilize in 2008 after surging last year, suppliers and traders from those countries said on Wednesday.
A second supplier said that a slew of maintenance shutdowns in
Price resistance among Turkish buyers due to competition from Middle East and Indian suppliers would also cap South Korean exports to
A Tehran-based trader said that the cumbersome banking procedures following the imposition of US economic sanctions on
“Besides Middle East suppliers, it is only the South Koreans who have been willing to brave the banking restrictions to sell into
Most countries have stopped exporting to
Only Iranian suppliers continue to extend favorable credit terms, due to their long-standing relationship with Iranian customers.
“Most of the Iranian banks insist that the transactions should be done in Euros and not in US dollars, which only the South Koreans are willing to comply with,” said an Iranian converter.
PS exports from
PVC exports from
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