Korean producer trims hike requests for PS, ABS in Turkey

A South Korean producer, who issued hefty increases for PS and ABS last week, stepped back from its prices. The producer’s latest done deals were down $30/ton for PS products and $40/ton for ABS on the week.

A trader purchased some material from the Korean source at $1420/ton for GPPS and $1470/ton for HIPS, CIF Turkey, cash. His deals for ABS were at $1660/ton for natural and $1810/ton for ABS white, all CIF Turkey, cash no duty.

He reported, “Our South Korean producer had applied $180-190/ton increases for GPPS and HIPS, while also raising it ABS offers by $150-200/ton. We still paid 3 digit increases and replaced moderate amounts to sustain our business with the seller. We don’t think prices can rise further onwards despite bullish butadiene costs as spot styrene costs are easing down in Asia and global demand is set to slow given nearing holidays in Europe and China.”