May ABS prices rise €10-20/tonne on higher feedstock costs

23 May 2014 23:59 Source:ICIS News

LONDON (ICIS)--Prices in the European acrylonitrile-butadiene-styrene (ABS) market have increased €10-20/tonne for May because of higher feedstock costs, buyers and sellers confirmed on Friday.

A producer confirmed that the majority of its May discussions for monthly freely negotiated business were settled at an increase of €10/tonne, lower than its initial May target of plus €20/tonne.

A second producer was more firm with its prices, passing on a higher portion of the €20/tonne May feedstock styrene contract increase.

“Our settlement [was] in the range of [plus] €15-20/tonne, with the majority towards €15/tonne,” the producer said, adding: “€10/tonne was very much the exception.”

Buyers confirmed increases of €10-20/tonne for May business, although one buyer said that it achieved a rollover from one supplier, but this was not seen as representative of the overall market.

Prices from Asian suppliers remain competitive and may also have influenced some European suppliers to lower their prices from initial targets. A buyer in the south of Europe said that general purpose ABS could be purchased from South Korea at €1,650/tonne FD (free delivered) Italy.

Prices for compounding grade ABS were assessed at €2,185-2,225/tonne FD NWE (northwest Europe), according to ICIS.

By Matt Tudball