Lower styrene costs pull import ABS prices down in Turkey
The prevailing Taiwanese ABS offers stand at $1385/ton for natural and $1535/ton for white grade, all CFR Turkey, subject to 6.5% customs duty, cash. The recent levels represent $50/ton decreases from the previous May levels. The supplier’s total decrease amount reached $75/ton for this month.
A trader reported purchasing some South Korean ABS natural at $1360/ton CFR Turkey, cash no duty. “We purchased ABS natural with a $20/ton discount from our supplier’s initial offer. We expect to see further softening in styrenics prices for June,” he highlighted. Meanwhile, the trader was also offered ABS white at $1650/ton by the same supplier with the same terms.
Overall buying interest in Turkey remains sluggish for ABS while ABS natural prices demonstrate more significant weakening compared to white and black grades given comfortable availability for the product. Considering unpromising demand, traders are cautiously replacing their stocks.
Another factor weighing down the market and keeping expectations bearish is lower spot styrene costs in Asia. Spot styrene prices on an FOB South Korea moved below the $1000/ton threshold late last week and indicated a weekly decline of around $55/ton.
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