S. Korean producer issues large PS, ABS hikes to Turkey

A South Korean producer issued sizeable hikes on its PS and ABS prices in Turkey. According to a trader, the producer’s list prices are at $1450/ton for GPPS and $1500/ton for HIPS, CIF Turkey, cash no duty. These most recent levels indicate $180-190/ton hikes compared to its last November transactions in Turkey.

Meanwhile, the South Korean producer lifted its ABS prices by $150-200/ton to $1700/ton for ABS natural injection and $1850/ton for white injection, all CIF Turkey, cash. The producer did not offer ABS black grade.

“These huge hikes for PS and ABS were triggered by rallying butadiene costs in Asia. Although spot styrene prices eased down in the last couple of days as oil prices lost ground after the US FED’s decision to raise interest rates, they still remain above early December,” a trader highlighted.

Spot butadiene prices spiked $180/ton to hit $1930/ton on FOB South Korea basis on Friday, while the cumulative increase on a weekly basis reached $250/ton. Looking at styrene costs, they gained around $10-15/ton with the same terms since December started.