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Higher costs keep ABS sentiment firm in Italy and Turkey

January 23/2012

(plasticsinfomart) -- ABS sentiment is bullish in both Italy and Turkey as stronger global trends and steadily rising feedstock costs are pushing prices higher in spite of buyers resistance to firmer offer levels as per the pricing service of ChemOrbis.  Buyers in both countries are bracing for further price hike announcements for February as feedstock prices have recorded sharp increases over the month and producers are struggling to achieve acceptable operating margins.

Players in Turkey reported that the countrys ABS market was quiet over the past week as many sellers had already finished their January sales and most producers have yet to nominate their February prices.

We believe that ABS prices will record significant increases next month, reported a trader based in Turkey.  Upstream costs are putting strong upward pressure on prices.

However, demand is not all that great and will limit the size of next months increases as buyers will most likely show resistance to sellers initial price levels, the trader added.

A similar trend is also in place in Italy, where significant price increases are said to be passing for January even though demand is not said to be very encouraging.  We had pre-bought some material in late December and have therefore been in no hurry to purchase this month, a trader reported.  European sellers are seeking large price increases for this month which may pass as non-European import prices are not very competitive, the trader added.

Author:Marina Ivanova
Category:General News
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