Korean ABS offered higher to Turkey for July
“Our supplier blamed higher spot styrene costs in Asia compared to early June as the reason behind their increase decision. Although they did not mention any supply issues, the ongoing concerns regarding the reduced availability from Taiwanese ABS producers give them an upper hand,” commented a trader.
Some players, on the other hand, remarked that the rebound in spot butadiene costs in Asia lost steam recently with prices for the feedstock remaining below $1000/ton FOB Korea threshold. “We will track the developments in upstream chain where NYMEX crude futures settled lower on Friday. Buyers are mostly sticking to the sidelines in Turkey after holidays and meeting their needs from the local market as they prefer to see whether the firming in styrene will be sustainable or not in the days to come,” a trader said.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high