Renewed hike attempts from Asian ABS producers in China
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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