South Korean ABS producers issue Nov offers to Turkey
A trader received $50-60/ton drops from a South Korean producer for November shipment ABS cargos. The producer’s latest offers stand at $1940/ton for ABS natural and $2300/ton for ABS white, all on CIF Turkey, cash no duty basis. “Our counter bids are $40/ton and $100/ton lower, respectively. We believe that we will be able to obtain additional decreases from our supplier,” the trader commented.
Another trader also reported, “Our South Korean producer announced their new ABS prices with decreases of $50/ton for natural and $100/ton for white and colored grades, which we already expected due to dipping butadiene costs in Asia. If we would buy around 700-800 tons, they were open for negotiation, but we plan to buy a very limited amount given our high stocks and slow sales.”
On another note, a different South Korean source which had issued significant drops for October elected to approach the market with rollovers for November. “We decided not to purchase any material from our supplier as they were unwilling to offer any discounts, claiming that they have smooth sales in general,” a trader noted. The producer’s prices are currently at $1950/ton for ABS natural and $2200/ton for ABS white, CIF Turkey, cash no duty.
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