China’s import ABS market sinks to 3-month low amid uncertainty in styrene
A Taiwanese producer implemented additional decreases of $30/ton on its ABS offers to China at the start of this week while a Thai producer also cut its ABS offers further by $20-40/ton, with a company source noting that their new offer levels are open to negotiations.
A trader operating in China reported that their ABS offers tumbled by $20-60/ton from last week. “Market activity is lackluster as players are evaluating whether the market sentiment will change or not following the recent rebound in styrene prices. We think that the uncertainty in Asia’s spot styrene market continues to put pressure on ABS,” he commented.
Another trader also opined, “Spot styrene prices have turned firm recently. However, ABS prices are yet to follow suit as demand remains weak. Buyers are cautious about the outlook.”
The weekly average of spot styrene prices on FOB South Korea basis has slightly rebounded from its two-and-a-half-month low, according to ChemOrbis Price Wizard data. Despite a week over week increase, spot prices have been tracking a quite volatile trend recently.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Export PET prices from Asia touch new lows on increased supplies
- European LDPE under pressure from lower ethylene, weak fundamentals
- Stable to soft trend retained in July PP, PE offers to Mid-East, Africa
- Tightness pushes local LLDPE film prices to 5-month high in Indonesia
- Asian PS markets plummet to around 2-month low, eyes on styrene
- July PP sentiment shifts following stable propylene in Europe
- Saudi major’s July PE pricing differs in China, Egypt
- Depreciating currencies put pressure on SE Asia’s local PVC markets
- Import HDPE film prices move below spot ethylene in China
- Future of US PVC still under discussion in Turkey