S. Korean PS, ABS offers to Turkey spike on limited supply
According to traders, initial GPPS and HIPS prices from the seller stood as high as at $1630/ton and $1750/ton, respectively, both CIF Turkey, cash no duty. They represented more than $300/ton hikes from the previous transactions for this origin.
South Korean ABS natural injection was offered at $2650/ton CIF Turkey, cash no duty. ABS white and black injection prices rose to $2830/ton and $2800/ton, respectively with the same terms. Meanwhile, SAN injection prices also emerged with a hefty increase and stood at $1850/ton.
“These are probably for January shipment cargos. Steeply higher freights as well as bulky sales in Asia during the previous weeks paved the way for massive hikes. Turkey had lacked a healthy premium over China for weeks,” said a participant.
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