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South Korean ABS producer reveals August prices in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/07/2015 (15:57)
A South Korean producer announced their new ABS offers for August shipments. Their new prices indicate $50/ton decreases, according to a trader.

“We are planning to replenish minimum amounts from our South Korean supplier even after their reduction since demand is not encouraging in Turkey at the moment. Plus, we already have lots of material in stock and on the way,” the trader said. Meanwhile, she lamented that Iranian materials are now entering the market smoothly given eased sanctions against the country. This creates extra pressure on distributors, she added.

A second trader expects to receive fresh ABS offers from his South Korean supplier later this week. “We expect to receive initial offers with rollovers for the approaching month. Prices may hold flat at $1670/ton for natural and $2000/ton for white grade, CIF Turkey, cash no duty,” he opined.

Import ABS prices were reported to be mostly steady over the week in China, while they were down $30-70/ton in Southeast Asia. Considering the recent South Korean ABS natural prices at $1500/ton in China, offers in Turkey have some further room to decline for this origin in the days to come. Spot styrene, butadiene and ACN prices posted decreases over the week in tandem with falling crude oil costs.
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