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Korean ABS offered higher to Turkey for July

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/07/2017 (13:30)
Turkey’s import ABS market continues to see price increases from Asian sellers for July. Following the hike request of $50/ton from a Taiwanese producer last week, traders reported receiving $70/ton increases from a South Korean ABS producer for the month as well. South Korean producer’s ABS natural offers are now at $1770/ton CIF Turkey, cash no duty.

“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.
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