S. Korean producer applies hefty PS, ABS drops to Turkey

Turkey’s import PS and ABS markets extended their decreases into December as new offers from Asian supply sources emerged with a new round of drops. “Producers reflected lower styrene prices in the region onto their most recent prices,” highlighted players.

A South Korean PS maker revealed sharp drops of $120/ton when compared to early November, bringing its GPPS and HIPS prices to $1320/ton and $1370/ton, respectively, CIF Turkey, cash no duty. Meanwhile, the producer’s ABS offers were down by $170/ton to $1530/ton for natural injection and $200/ton to $1650-1670/ton for black and white injection grades.

Traders reported, “Our supplier is not open to negotiation while we did not find the current price levels workable as the short term sentiment remains weak and the year-end lull hampers activity further nowadays.”