News Code :
42842
Import ABS drifts lower in SEA as demand remains sluggish
• Import ABS down $10 on both ends • Sluggish demand blamed for lower prices • Crude oil softens after hitting 6-month high • Spot styrene posts a slight weekly gain • Spot ACN maintains firming in Asia • Import ABS inj. ($/ton): 1570-1630 CIF
Petrotahlil:
ABS prices soften amid thin holiday trading in China
• Import prices stable to $20/ton softer
• Far East Asian producers cut offers on buyers’ resistance
• Local ABS market also posts weekly declines
• Spot ACN hovers around 6-month high
• Butadiene stable, styrene slightly up
• Import prices ($/ton): 1570-1660 CIF
May ABS offers awaited slightly firmer in Europe following higher SM
• SM settles €32.50 higher
• Ineos Styrolution officially raise prices by €40
• More offers may emerge on a slightly firmer note
• Market is stagnant at the moment
• Buyers may start to search the market soon
• Local ABS (€/ton): ext., inj. 1670-1760 FD
Will higher May SM drive ABS market further up in Italy?
• May SM fully agreed up by €32.50
• Ineos Styrolution announces hikes of €40
• Demand is lousy at the moment
• More sellers may target small price hikes
• A few players consider rollovers to be workable
• Fresh import offers awaited slightly lower
• Local ABS (€/ton): ext. 1650-1720 | inj. 1630-1700 FD
Egypt’s ABS market remains on downtrend amid subdued buying
• Import ABS offers down by $20
• Local prices steady to EGP1000 softer
• Tight liquidity, slow end-sales keep purchases limited
• Lower USD/EGP rate weigh on local prices
• Import ABS ($/ton): 1590-1650 CIF
Korean ABS on high ends fails to work in Turkey
• May SM settled up €32.5 in Europe
• European ABS emerges €40 higher
• Crude turned down from 6-month high
• A visible change in price direction seems unlikely
• US-China trade talks will be a factor to watch
• Import (N) (€/ton): Europe ABS 1570 CIF
• Import (N) ($/ton): Korea ABS 1620-1640 CIF
• Local (N) ($/ton): 1750-1820 not inc. VAT.
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