S. Korean producer issues large PS, ABS hikes to 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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets