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Import ABS offers see $2000 and above in China and SE Asia

by ChemOrbis Editorial Team - content@chemorbis.com
  • 29/08/2017 (15:42)
Players in China and Southeast Asia reported that import ABS offers at and above the $2000/ton threshold emerged this week as some sellers applied increases of up to three digits on their offers in line with tight supplies, the bullishness of upstream markets as well as good demand in China.

In China, a source from a South Korean producer reported that their ABS offers to China increased by $200/ton from two weeks ago to $2100/ton CIF China, cash basis given firmer costs. “The prevailing market levels are dramatically high,” the source added.

A trader commented, “ABS prices remain bullish due to firmer upstream costs while there is almost a panic mood among traders. Our offers increased by $60-80/ton on a weekly basis and we heard that some sellers are giving offers at around $2030-2100/ton CIF level although no done deals are have been concluded yet.”

In Southeast Asia, an Indonesian trader reported that their South Korean supplier’s ABS offers increased by $90/ton from last week to $2000/ton CIF Indonesia, cash basis. The trader noted, “We think prices moved up too fast and their decline will be quick as well.”

In Asia, spot styrene prices on FOB Korea basis are currently $190/ton higher than early August levels while CFR China based spot butadiene prices posted a more significant increase of $410/ton in the same period.

So far this week, import ABS prices in China increased $40-85/ton to $1960-2020/ton CIF China, cash basis while the Southeast Asian market rose by $80-90/ton to $1890-2000/ton CIF Southeast Asia, cash basis.
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