Korean PS, ABS producers reveal February hikes to Turkey
Overall, Korean PS ranges are now at $1380-1450/ton for GPPS and $1430-1500/ton for HIPS, CIF Turkey, cash no duty with negotiations being underway. A trader noted, “We plan to push for $50/ton discounts from our supplier. In case we can’t obtain them, we are mulling over skipping the month in terms of replenishment as we have some stocks on hand and activity in Turkey is still moderate on volatile parity.”
Also, South Korean ABS producers started to seek increases of up to $85/ton for next month. Accordingly, the latest prices are pegged at $1800/ton for ABS natural, $1900/ton for black and $1950/ton for white grade, all CIF Turkey, cash no duty.
In Asia, spot butadiene prices hit the $3000/ton FOB Korea threshold on Friday on the back of supply constraints and vivid demand from the tire industry. The recent level represents a massive increase of $710/ton with respect to early January. Spot styrene costs posted a cumulative gain of around $115/ton with the same terms in the period to be reported above the $1300/ton threshold recently.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?