South Korean ABS dealt with decreases for May in Turkey

Korean ABS producers started to offer for May to Turkey with monthly decreases. Two producers approached the market with drops of $60-80/ton from the last April levels with some traders securing some volumes given their diminishing prompt stocks.

Accordingly, the most recent deals for South Korean origins were reported at $1740-1750/ton for ABS natural, $1890/ton for white and $1860/ton for black grade, all CIF Turkey, cash no duty.

A trader who replenished some stocks with $80/ton decreases said, “We already expected to receive lower prices for May considering the decreasing trend in China, where the sentiment was dominated by dropping energy and styrene costs.”

Another trader mentioned, “We concluded deals with our Korean source with slight discounts from their initial announcements. We have already sold almost the half of our volumes as prompt availability is tight these days.”