Korean PS, ABS offered with additional hikes to Turkey
South Korean GPPS and HIPS prices are reported at $1440/ton and $1460/ton, respectively, on CIF Turkey, cash basis. “Our Korean supplier applied $30-40/ton increases on their prices this week on the top of their initial hikes of $70/ton for July,” noted a trader, adding that he found these levels too high to work with.
For ABS, the offers from the producer came with a small increase of $10/ton for ABS natural by late June while they were flat for white and black grades. This week, the prices of the Korean supplier are up by $70-80/ton for all grades to be reported at $1750/ton for ABS natural, $1880/ton for black and $1880/ton for white, all CIF Turkey, cash no duty.
“We will try to pay rollovers or at least smaller hikes while replenishing our PS and ABS stocks. We have no material on hand for the time being,” some traders stated.
In upstream, spot styrene prices were up by around $50/ton on a FOB Korea basis on the week. Spot butadiene prices edged down with the same terms on the week, meanwhile, after its upturn lost steam by early June.
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