ABS prices post fresh drops in China
In the import market, ABS prices reportedly witnessed fresh drops on the week to be currently quoted at $1540-1600/ton on a CIF China, cash equivalent basis. According to ChemOrbis Price Index, the range is down around $25/ton from last week. “Prices are weighed down by stagnant demand along with lower costs,” a trader commented.
Inside China, local ABS prices also retreated from last week. A trader based in Shanghai reported that local prices posted further decreases following the recent significant drops in crude oil prices. “Buyers are not interested in purchasing nowadays as they expect to see further decreases due to lower costs,” he stated. Local ABS prices are down around CNY250/ton ($40/ton) on the week to currently stand at CNY11500-13000/ton ex-warehouse China, cash equivalent basis ($1614-1825/ton without VAT).
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