ABS

ABS markets in Asia moved up to US$1750/MT in the week of February 18, 2008, even as dullness prevailed due to absence of Chinese buyers after the Lunar new Year break. Most major suppliers from South Korea and Taiwan propose to hike prices by about twenty to thirty dollars to recover yet another increase in feedstock values. In a bid to counter squeezed production margins, major producers plan to further hike offers to US$1780/MT CFR China.