China’s import ABS market breaks above $1900/ton threshold
In Asia, spot butadiene prices have been tracking a bullish path for more than one month, with the current levels indicating an increase of around $910/ton FOB South Korea/CFR China on a month over month basis.
In the past few weeks, the import ABS market had stabilized at their highest levels in more than a year despite soaring butadiene costs. However, this week, ABS sellers elected to reflect surging costs onto their offers.
According to a few traders, two Taiwanese producers implemented an increase of $30/ton on their ABS offers to China while a source from a South Korean producer reported that they also raised their prices by $30/ton following the recent gains in butadiene. “The ABS market was balanced between weak demand and firmer costs in the recent weeks. Although demand remains thin, we had to lift our prices given the pressure from the cost side,” he commented.
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