Asia ABS prices display a rebound as China demand recovers
In China, import ABS inj. prices for overall origins were assessed higher by $60-130/ton compared to last week at $2100-2210/ton CIF, cash.
“With firmer styrene feedstock prices, which appear likely to trend even higher, several buyers have returned to the spot market to pick up bargains before ABS prices climb higher. Also, end users are seeing a pickup in downstream demand for automotive and electrical appliances, hence there’s motivation to stock up the ABS raw material,” said a local trader in China.
Lending further support to the price rebound are firmer styrene feedstock prices. According to ChemOrbis Price Wizard, spot styrene prices have increased more than $100/ton in the past three weeks to stand at $938/ton CFR China currently.
In Southeast Asia, import ABS inj. offers climbed $50/ton compared to last week and were assessed at $2100-2200/ton CIF, cash.
Although there has not been a similar demand uptick as in China, suppliers have hiked offers into the region as well. This was because buyers are likely to pick up spot cargoes, fearing that a surge in Chinese demand will just trigger more price hikes in the near term.
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