Initial July ABS prices revealed from South Korea to Turkey
The latest offers for a South Korean origin now stands at $1750/ton for ABS natural and $2000/ton for ABS white, all CIF Turkey, cash, no duty. A trader reported that they will negotiate with their supplier to get a discount, citing recently lower styrene costs in Asia. After gaining ground earlier this week, spot styrene costs declined around $50/ton to be reported at around $1310/ton FOB South Korea. Meanwhile, styrene prices continue to remain above early June.
Most traders in Turkey are hesitant to replace much stocks, taking stagnant post election activity amidst collection problems into consideration. Distributors prefer to do back to back business in the local market. One distributor said, “Producers are keeping their margins high while no one imports cargos nowadays. There are severe collection problems while Ramadan slowed business a bit more. Nonetheless, we do not foresee any drastic changes as supply may tighten once existing stocks diminish.”
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