Expectations for July voiced in Turkey’s ABS market
Far East Asian ABS sellers may obtain rollovers after the market tracked a steadily bearish trend since April, according to some Turkish players. They point to a relatively firmer sentiment in China in the PS and ABS markets now that spot styrene and butadiene costs are stabilizing. China’s ABS market is likely to be supported by firm costs and lower supply expectations ahead of the G20 Summit over the coming term.
“Far East Asian sources may not be able to achieve any hikes here despite the firmer intentions voiced from the region unless demand shows a notable pick-up after Ramadan and supply diminishes in Turkey,” traders argue.
Upstream, spot styrene prices were up by $20/ton week over week on an FOB South Korea basis. Spot butadiene costs with the same terms also gained $30/ton in the period. ACN prices also edged up on a CFR Far East Asia basis on the week.
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