South Korean ABS prices surface for Dec in Turkey
A trader reported receiving fresh ABS offers from his regular South Korean supplier with $30/ton drops when compared to November. “Our supplier’s prices are currently standing at $1290/ton for ABS natural, $1460/ton for ABS white and $1410/ton for ABS black, all on CIF Turkey, cash no duty basis,” the trader said.
A second South Korean ABS producer offered more modest discounts of $10/ton for December shipments. A trader who regularly receives offers from the source stated, “We will not replace considerable ABS quantities heading to the year end. Therefore, we will not push for more significant discounts for the last month of 2015.”
The prevailing import ABS natural injection offers at $1130-1200/ton CFR China, subject to 6-6.5% customs duty, cash suggest that import South Korean offers still have room to move down further in Turkey. On the other hand, a trader argued, “ABS and HIPS prices are almost on par although ABS should traditionally carry a premium of up to $200/ton over HIPS. ABS makers will try to recover their margins at some point," argued a trader.
Upstream, spot styrene costs were down by $40/ton on an FOB South Korea basis compared with the start of November while butadiene prices plunged $90/ton with the same terms. Meanwhile, ACN costs soared by $65/ton on CFR Far East Asia basis in the same period.
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