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 PE market stuck between weak fundamentals and up pressure from China
- Firming PP trend falters in China’s local market
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops