20 May 2011 23:59 [Source: ICIS news]
Increases in feedstocks styrene and acrylonitrile (ACN), by €34-38/tonne ($49-54) and €35/tonne respectively, also contributed to the ABS rise.
Some sellers managed to get up to €120/tonne increases on some accounts, particularly for specialty and high-heat grades, which go into the strongly-performing downstream German automotive sector.
On the other hand, one buyer said it negotiated just a €50/tonne rise in compounding grade ABS, but the majority settled for increases in the €80/tonne range.
Producers were originally targeting between plus €110-150/tonne for May, but proved to be flexible as buyers find Asian imports increasingly abundant and attractively priced.
Customers said that Asian import numbers are lower than European prices for the first time this year, with values heard between €1,750-1,850/tonne FD (free delivered) NWE (northwest Europe), though some run up to around €2,000/tonne FD.
European compounding grade prices are currently assessed at €2,120-2,170/tonne FD NWE, according to ICIS.
($1 = €0.70)
For more on ABS visit ICIS chemical intelligence
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