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.
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