ABS and PS prices continue to fall in Asia amid a bearish market

04-Dec-08

As market outlook continues to be pessimistic, CFR China ABS prices slipped to US$1200/MT, while GPPS dipped to US$700/MT. As lackluster market sentiments reign and unenthusiastic buying continues, most CFR China ABS offers from South Korea and Taiwan have dipped to US$1220/MT levels. Though few offers from select sellers were heard at US$1250/MT, majority of December shipment offers ranged about twenty five dollars lower. CFR China GPPS offers from Taiwan for December shipment dropped to US$725/MT with deal concluded about 10-20 dollars lower, CFR China HIPS also sunk to hover around US$800-825.