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Renewed hike attempts from Asian ABS producers in China

by ChemOrbis Editorial Team - content@chemorbis.com
  • 01/06/2017 (10:56)
Chinese traders reported that some Asian producers implemented slight increases on their ABS offers to China’s import and local markets this week. Although slumping butadiene costs pushed some sellers to concede to discounts last week, higher styrene prices as well as limited ABS supplies appear to have led producers to seek renewed increases albeit in small amounts in an attempt to firm the sentiment back up.

In Asia, FOB Korea based spot styrene prices posted a weekly gain of around $19/ton this week while CFR China based butadiene prices retreated by $45/ton in the same period.

A trader reported that a Taiwanese producer increased its offers by $10/ton from last week for ABS injection to $1690/ton CIF China/Hong Kong, cash basis. Meanwhile, the producer concluded deals for ABS at $1660/ton with the same terms, which shows that sellers are not so adamant about their hike requests.

The trader commented, “ABS allocation is limited to 60%. The number of inquiries we receive from end-users is stable albeit in small quantities.”

The trader also reported that another Taiwanese producer applied a weekly increase of $10/ton on its ABS prices and brought its new offer level to $1650/ton CIF China/Hong Kong, cash basis.

A distributor of a Chinese producer also reported that the producer increased its local ABS offers by CNY200/ton ($29/ton) when compared to last week to CNY14900/ton ($1853/ton without VAT) on an ex-warehouse China, cash including VAT basis.
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