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South Korean ABS sellers trim April hike requests in Turkey

by ChemOrbis Editorial Team -
  • 06/04/2015 (16:35)
In Turkey, initial price hikes were trimmed for certain South Korean origins when compared to initial announcements although the latest levels still remain above March. Two traders reported obtaining reductions of between $30-70/ton from their suppliers’ initial offers. Prices were initially revealed with hikes of up to $80/ton while one trader had to pay the $50/ton increases asked by his supplier to replace some stocks.

Overall, South Korean ABS offers were pegged at $1650-1770/ton for natural, $1970-2000/ton for white and $1920/ton for black grade, all on CIF Turkey, cash no duty basis. “We purchased some natural at the low end of the range, $70/ton below our supplier’s initial levels,” said a trader.

Players expect the market to sustain its strength on the back of higher styrene and butadiene prices in Asia. Spot styrene and butadiene prices surged around $50/ton on the week on an FOB South Korea basis even as spot ACN prices softened $25/ton on a CFR Far East Asia.

In China, ABS prices are expected to witness some increases over the near term in line with firmer costs, supported by the heavy maintenance season in South Korea. Players are also expecting demand to improve with the start of the high season for manufacturing.
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