Turkey's Ministry of Economy has launched an anti-dumping investigation into Iranian polystyrene, according to a Turkish market source and local media Tuesday. 

In the fourth quarter of 2017, Iranian polystyrene accounted for 12,334 mt of the 56,063 mt of polystyrene imports into Turkey, excluding expandable polystyrene, according to data from Turkstat. 

Iran was the largest exporter of PS, excluding EPS, to Turkey in December 2017, surpassing Belgium, which was the largest exporter of PS, excluding EPS, to Turkey in both October and November. 

Demand across Turkish polymer markets has been impacted in recent weeks by the decline of the Turkish lira against the US dollar. The weakness of the lira has led buyers to move to the sidelines, where possible. 

CFR Turkey GPPS spot prices were assessed at $1,460/mt on May 16.