Asian PS, ABS suppliers continue to slash offers to Turkey
GPPS and HIPS offers from a South Korean producer suggested $30/ton decreases this week, which brought the total drop amount to $170/ton for both products from September. Currently, the producer’s offers stand at $1420/ton for GPPS and $1520/ton for HIPS, CIF Turkey, cash, no duty.
ABS offers from the same producer also reduced further by $50/ton on the top of their initial decreases of $40/ton for October. Their most recent ABS natural injection price stand at $1900/ton, while white and black grades are offered at $2050/ton and $2020/ton, respectively with the same terms.
Traders reported, “We elected not to replace any stocks at these prices considering the weak demand outlook for the year-end.” Counter bids were $70/ton below the producer’s most recent levels, in the meantime.
Additionally, an agent of an Indian PS maker reported that their supplier cut their list prices by another $20/ton from last week to $1380/ton for GPPS and $1430/ton for HIPS, CIF Turkey, subject to 3% customs duty, cash. The cumulative decline from the source reached $160/ton for this month. “We are yet to conclude any deals so far this week with bids standing much lower than our prices. Buyers aim for $1300/ton or even slightly below this threshold for GPPS,” the agent stated.
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