Sentiment for import ABS firms up in Turkey
However, expectations have started to call for a trend shift for July mainly due to the fact that freight rates from South Korea have climbed and ABS prices have turned up in China over the week. Turkish players are now voicing their firmer expectations regarding next month.
“Freight rates from Korea have risen from around $70/ton to almost $130-150/ton. ABS shipments from the country are likely to see some delays as it is hard to reserve space nowadays,” players confirmed. Sellers are projected to apply increases citing their higher shipment costs, although spot butadiene costs that stood below $850/ton FOB Korea may keep any hike attempts in check.
South Korean ABS natural injection was last dealt at $1650-1670/ton CIF Turkey, cash no duty in June. Overall activity is considered limited ahead of the Eid Holiday, while traders argue that supply will probably tighten by early July once players return.
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