Asian ABS producers report tight supplies
A source from a South Korean producer reported that they will have a scheduled maintenance at their ABS plant in November for two weeks.
A Southeast Asian producer also informed that their inventories are low due to the on-going maintenance until the end of November. “We raised our ABS offers to China by $20/ton from two weeks ago to $1920-1930 CIF. However, we need to monitor players’ reactions in order to be sure about the sustainability of this firming. Meanwhile, players in Southeast Asia are not open to offers above the $1900/ton level. We think the ABS market will display a rebound if costs and crude oil prices manage to remain firm in the near term,” a source from the producer commented.
A source from another Southeast Asian producer also noted, “ABS buyers are reluctant to make purchases. We still have backlog orders to clear while our supplies remain tight.”
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