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Taiwanese ABS producer applies hefty hikes to Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/02/2017 (09:05)
Turkey’s import ABS market retained its bullish trend as of early February. Following sizeable hikes pioneered by several South Korean producers last week, a Taiwanese major issued $150/ton higher February prices this week, bringing its most recent offers to $2040/ton for ABS natural and $2190/ton for ABS white, all CIF Turkey, subject to 6.5% customs duty, cash.

A trader who received these offers attributed the recent hefty hikes from the Taiwanese producer to higher spot styrene and butadiene costs compared to a month ago. “We found the latest offers from our supplier too high to work with,” he said.

The higher announcement from the supplier was in line with increases in China, where two Taiwanese producers implemented hikes of $100-150/ton right after New Year holiday this week, sending prices to above the $2000/ton threshold for the first time in more than two years. Currently, Taiwanese ABS offers stand at $2050-2060/ton CFR China, cash.

Some ABS players are now questioning whether the recent ease in spot styrene costs will deepen and result in a correction on downstream ABS prices depending on supply-demand dynamics or not. Spot styrene costs edged down by around $15/ton on a FOB Korea basis week over week but they remained well above early January levels.
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