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South Korean ABS dealt with discounts in Turkey

by ChemOrbis Editorial Team -
  • 29/06/2015 (16:19)
In Turkey, initial July ABS offers for a South Korean origin were revealed with rollovers from previous levels. These cargos were traded with some discounts due to thin demand from traders who refrain from fully replacing stocks amidst poor trading activity during Ramadan.

A trader reported purchasing some July shipment cargos from his South Korean supplier at $1700/ton for ABS natural and $1940/ton for ABS white, all on CIF Turkey, cash no duty basis. A discount of $50/ton was obtained on natural grade and a discount of $60/ton for white grade. “We don’t expect to see sharp changes in the ABS market since supply may tighten over the medium term considering thin replenishment activities amidst weak sentiment,” the trader noted.

The prevailing South Korean ABS prices in China stand at $1615-1625/ton CFR China, which shows that prices in Turkey for this origin remain under downwards pressure.
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