Far East Asian ABS prices retreat in Turkey
A South Korean producer applied another $100/ton decrease on their ABS offers, bringing the cumulative drop from the seller to $200/ton for September. A trader reported, “We received a lower ABS natural offer at $1350/ton CIF Turkey, cash from our supplier. However, prices may pare some of their losses in the days to come if upstream prices manage to hold firm,” commented a trader.
A different South Korean producer had pioneered September drops at the end of August. The producer applied $50/ton drops two times in a row before concluding their sales for the month, reported traders.
Taiwanese ABS offers for September were revealed with $30/ton declines when compared to end August levels. The recent offers of a producer were quoted at $1415/ton for natural and $1565/ton for white grade, all on CIF Turkey, subject to 6.5% customs duty, cash.
According to ChemOrbis Turkey ABS Price Index, import ABS natural prices are now standing at the lowest levels on a weekly average since 2012, when the index was first established. Prices have posted a cumulative decrease of $300/ton since the beginning of 2015, according to the same data.
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