24 January 2006 10:38 [Source: ICIS news]
SINGAPORE (ICIS news)--A slowdown in market activity in the run-up to next week’s Chinese New Year has led to some Asian acrylonitrile butadiene styrene (ABS) producers withdrawing firm offers from the market this week, suppliers said on Tuesday.
“We have withdrawn our offers as the buyers have already retreated from the market. In the past week, there were no enquiries and my phone hardly rang,” said a Hong Kong-based ABS supplier.
“There is no point posting offers if the buyers are not around and there are no firm bids or buying interest,” he added.
ABS offers are notionally pegged at $1,450/tonne CFR Hong Kong and ?xml:namespace>
“The market is very quiet and there were hardly any deals the past week. Anyway, January business has been completed and there is no point in starting negotiations on February business with the market closed for the next week or so,” said a supplier based in Guangzhou, Guangdong Province, China.
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