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Turkey’s local ABS market sinks to 3 month lows

by ChemOrbis Editorial Team -
  • 07/06/2016 (14:41)
Turkey’s locally-held ABS market has followed a decreasing trend since mid-April, driven by lower upstream costs, limited activity and comfortable prompt supplies. Steadily falling import prices both in Turkey and Asian markets also exerted downwards pressure on the local market and are keeping purchasing activities to a minimum.

According to ChemOrbis Price Index, the distribution market has sunk to the lowest levels since March for ABS natural injection now that June witnessed a new round of price cuts from regular Far East Asian supply sources for import cargos.

The prevailing ABS natural range stood at $1350-1420/ton ex-warehouse Turkey, cash not inc VAT, down $50/ton on the low end and $30/ton on the high end on the week. ABS white and black prices, meanwhile, held steady at $1700-1750/ton and $1650-1700/ton, respectively with the same terms. “Supply is relatively limited for specialty grades while demand is also better than compared with natural grade. Thus, price cuts for white and black grades were at a slower pace,” players concurred.

In the meantime, a couple of distributors complained about receiving higher-cost previously purchased materials nowadays. “We will try to offer higher ABS natural prices this week to see the market response since we finished the materials we had previously purchased with lower costs. If our new levels prove to be unworkable, then we may have to return to our previous prices at $1400/ton,” a distributor stated.

Some players are questioning about whether the market may shift after June or not given relatively stable styrene prices in Asia. “We purchased some ABS natural with $50-60/ton decreases this month while we may ask for additional volume from our South Korean supplier for August arrival cargos considering that demand may improve by September,” a trader argued.
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