S. Korean ABS producers issue July prices in Turkey

Traders reported receiving new ABS prices from three South Korean suppliers for July shipment cargos. Accordingly, producers approached the market with hike requests ranging between $50-100/ton depending on the grade.

Following new announcements, the overall South Korean ranges were at $1310-1350/ton for ABS natural, $1510-1600/ton for white and $1460-1550/ton for black grade, all CIF Turkey, cash no duty.

Higher price announcements were in line with rising offers in Asian ABS markets over the week on the back of higher spot butadiene and ACN costs in the region. Some traders in Turkey who received fresh prices said, “We are going to negotiate with our suppliers to obtain some discounts. We are not willing to replace large quantities since we have some material on hand. Moreover, we are not confident about demand outlook.”

ABS makers may not fully achieve their increase targets as traders who are not interested in bringing huge amounts given unpromising buying appetite in Turkey may push for discounts, according to some players. “We don’t expect any hike goals beyond $30-40/ton to pass on transactions,” a trader opined.