Asian producers’ ABS offers to China, SE Asia diverge
A Southeast Asian producer reported that their ABS offers to China are higher than Southeast Asia respectively at $1650/ton CIF and $1620/ton as demand from China is relatively better while it is still sluggish in Southeast Asia.
A trader reported that a Taiwanese producer kept its ABS offers to China stable this week at $1650/ton CIF China/Hong Kong cash basis. The trader said, “Prices remained stable from last week while ABS allocation has been reduced from 80% to 50%.”
As was mentioned in ChemOrbis Plastics News South Korean producer cuts PS, ABS offers further to Indonesia , a Korean producer also decreased its ABS offers to the Indonesian market for another week by $20-40/ton to $1610-1620/ton CIF.
Meanwhile, another Taiwanese producer offered ABS to Southeast Asia and China at the same level of $1650/ton CIF SEA/China, cash basis. A source from the producer commented, “The number of ABS deals is slightly better in China when compared to the European and Southeast Asian markets while overall buying activities is not too bad recently. However, we think prices will remain stable in the days ahead as upstream costs will be stable while demand is weak.”
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