South Korean producer raises PS, ABS offers to China
The producer’s new offers are up by $50/ton for ABS injection to be reported at $1450/ton and up by $20-30/ton for HIPS injection to be quoted at $1220-1230/ton CFR China with the same levels. The source stated that the local prices also increased by CNY100-200/ton ($15-30/ton) for ABS this week on the back of the firming monomer price.
He commented, “We are operating our plant at 90% of capacity now. Demand is mostly stable. Traders are replenishing their stocks as they expect to see higher prices in the coming term. We believe that prices will continue to move up but we are not sure whether these hikes will see acceptance from the buyers’ side.”
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