News Code :
42611
April ABS hikes partially reflected on deals in Turkey.
Petrotahlil:
April ABS hikes partially reflected on deals in Turkey
• Feb ABS imports plunged by 22% m-o-m; 30% y-o-y
• April ABS deals closed $30 higher after step-back
• 3-digit hikes awaited for April SM in Europe
• Spot SM in Europe, Asia saw weekly declines
• Import (N) ($/ton): Korea ABS 1610 CIF
• Local (N) ($/ton): 1700-1800 not inc. VAT
European ABS market to rise further in April on stronger costs
• Firmer April outlook pushes buyers to secure fresh volumes
• Expectations for new round of larger hikes dominate the market
• Players anticipate 3-digit increases for April SM
• Demand may slow down due to some festivities in April
• Import (€/ton): S. Korea ext. 1550-1600 DDP
• Local ABS (€/ton): ext., inj. 1600-1690 FD
Weak trading activities linger in Egypt’s ABS markets
• Import, local ABS markets stabilize on quiet demand
• Buyers reluctant to commit to purchases
• Liquidity issues continue impacting local market
• Import ABS ($/ton): 1600-1650 CIF
Import ABS shifts direction in SEA
• ABS down after mostly increasing since early year
• Lower prices attributed to thin interest, costs
• Spot butadiene, ACN prices retreat on week
• Spot styrene posts a weekly loss in Asia
• China’s ABS market also slightly soften
• Import ABS inj. ($/ton): 1560-1600 CIF
ABS sellers anticipate larger hike targets for April in Italy
• ABS contract prices settled up by €40-50
• April SM awaited €100 higher
• Firmer trend may gain speed in April, despite thin demand outlook
• ACN shortness, turnaround season may support sellers’ firmer stance
• Import ABS (€/ton): S. Korea inj. 1500-1550 | ext. 1550-1570 DDP
• Local ABS (€/ton): ext. 1560-1640 | inj. 1550-1630 FD
ABS sellers revise offers down to China
• Import prices down $5-10 from last week
• Limited deals concluded with further discounts
• Buyers’ resistance was blamed for price cuts
• Volatile styrene weighs on buying sentiment
• ACN, butadiene respectively down $10, $25
• Import prices ($/ton): 1570-1670 CIF
