Asian ABS producers unveil September prices to Turkey
Traders reported that two South Korean ABS sources revealed their prices with mostly rollovers. “As an exception, a producer rolled over its ABS white and black offers but lifted its ABS natural price by $20/ton. We believe the producer will have to step back from its hike target for natural grade considering limited demand from Turkish players,” a distributor opined.
Prices for South Korean origins were reported at $1350/ton for ABS natural, $1600/ton for ABS white and $1550/ton for ABS black, all CIF Turkey, cash no duty.
A Taiwanese major producer lifted its ABS prices by $30/ton from its last August levels bringing them to $1435/ton for ABS natural and $1585/ton for ABS white, CIF Turkey, subject to 6.5% customs duty, cash. Players attributed the hikes to higher spot styrene and butadiene prices in Asia. These prices were deemed unworkably high by players.
Rising upstream costs driven by bullish energy prices combined with lower production levels for feedstocks and ABS in China ahead of the G20 Summit paved the way for a stable to firmer outlook in Asian ABS markets. Upstream, spot styrene prices were up $20/ton on FOB South Korea basis since the beginning of August. Butadiene costs soared $70/ton in the period with the same terms.
Nonetheless, Turkish players continue to opine that overall demand in the country is not supportive for a sustainable upturn for ABS for now while supply is considered sufficient.
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