Far East Asian ABS records hefty decreases for Oct in Turkey
Initial prices for a South Korean origin came at $1400/ton for ABS natural, CIF Turkey, cash before fresh offers for other South Korean origins came at much lower levels between $1200-1350/ton with the same terms. The South Korean ABS white range stood at $1600-1700/ton, while an offer for black was reported at $1550/ton.
“We were offered $120-150/ton decreases by our South Korean source. We will negotiate to obtain additional discounts from our supplier,” reported a trader. A different trader obtained $50-100/ton drops for October from his supplier. “We replaced minimum stocks though as we face stiff downwards pressure from very competitive Iranian and Korean materials that just entered the market,” he complained.
A Taiwanese producer revealed $65/ton drops compared to September bringing its latest offers to $1350/ton for ABS natural and $1500/ton for ABS white, CIF Turkey, subject to 6.5% customs duty, cash.
According to ChemOrbis Price Index, the import ABS natural market plummeted by $330/ton so far this year and hit the lowest levels since 2012 when the index was first launched.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PP, PE markets open post-Eid period with a cautious tone
- Global oil and petchem revenues hit by challenging market environment
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?