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South Korean ABS loses competitiveness in Italy

by ChemOrbis Editorial Team -
  • 04/12/2018 (13:09)
In Italy, ABS players noticed that import offers have lost their competitiveness against local materials. This was because South Korean suppliers were unwilling to concede to further margin erosion while the local market continued to soften on the back of plunging costs, ample availability and weak year-end demand.

Ineos Styrolution revealed new ABS offers with decreases of €100/ton to Europe valid as of December 1, according to a statement on its website. Players concur that the distinction between the two markets will be clearer as local market is high likely to be more competitive than imports after fresh December decreases are widely reflected on spot price ranges.

As for imports, players are now waiting for fresh offers for the new month amid sell ideas indicating only small decreases as South Korean producers aim to recover their margins.

“We are waiting to hear new December offers from our South Korean supplier, who was not willing to trim prices sharply due to their narrowing margins. Trade war truce between the US-China may have a positive impact on the market as was the case for other polymers in Asian markets,” commented a distributor.

A reseller reported that he plans to give offers for South Korean ABS ext. and inj. respectively at €1600/ton and €1650/ton on DDP basis.

Similarly, a nearby trader commented, “Our South Korean supplier revealed December offers with some decreases; however, they were not willing to concede to further drops.”

In Italy, spot ABS prices were last reported at €1640-1730/ton for ext. grades and €1660-1750/ton for inj. grades, FD Italy, 60 days.

Meanwhile, overall import ranges for South Korean ABS ext. and inj. stood €40-70/ton above the GA net price range at €1600-1680/ton and €1650-1700/ton DDP Italy, 60 days, respectively in November. November deals in the GA net market, meanwhile, were reported as low as €1550-1640/ton for extrusion and €1600-1630/ton for injection grades on FD, 60 days basis.
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