Asian producers raise PS, ABS offers to Indonesia
A trader reported that a South Korean producer increased its offers by $10-20/ton for ABS and by $20/ton for HIPS after adjusting its offers down for two consecutive weeks while GPPS witnessed larger gains of $30-50/ton.
The producer’s current offers are now standing at $1320-1340/ton for GPPS injection, at $1370-1400/ton for HIPS injection and $1620-1640/ton for ABS injection, all on CIF Indonesia, cash basis.
The trader noted, “New offers are yet to attract any buying interest so far. Buyers are refraining from any purchases nowadays given the road ban which will start by the end of this week. Therefore, we don’t think prices may stand at these levels for too long.”
A second trader also reported that ABS injection offers they receive from another South Korean producer and a Chinese producer rose by $20/ton from last week to $1670/ton and $1650/ton, CIF Indonesia, cash basis, respectively.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PET bottle fails to salve pandemic wounds; challenges mount as autumn begins
- Can LDPE uptrend hold in Asia?
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness