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European ABS market prone to further declines in December

by ChemOrbis Editorial Team -
  • 23/11/2018 (16:09)
In Europe, ABS deals for November were mostly closed down €100/ton while some sellers conceded to even larger discounts in a few cases. This was because buyers did not rush to purchase material amid comfortable supplies, competitive import offers as well as downward pressure from upstream markets.

A distributor confirmed, “Competitive import offers posed an obstacle for smooth sales.”

Players confirmed a visible slowdown in the automotive sector along with the overall weak demand for ABS applications. “ABS producers seem more open to concede to discounts with respect to PS,” said a compounder in Italy.

December hints at another round of decreases amid globally bearish markets. Moreover, players shared their decrease expectations for the next styrene settlement on the back of spot styrene and energy losses. December butadiene contracts have been already fully settled down €150/ton from November.

Nevertheless, expectations for a rebound in January might prompt buyers to stock up in December.

A compounder in Germany noted, “We expect further decreases in December while prices might rebound by January. We plan to secure more cargoes next month, when distributors and producers tend to enter the new year with empty stocks.”

In the spot market, ABS prices for ext. and inj. grades were respectively at €1670-1750/ton and €1680-1780/ton FD Italy, 60 days. In Northwest Europe, prices stood at €1680-1780/ton for ext. and €1700-1800/ton for inj. grades with the same terms.

As for imports, South Korean ABS was dealt at €1650/ton both for inj. and ext. grades on DDP Germany, 60 days basis. In Italy, ABS ext. for the same origin was dealt at €1650-1680/ton DDP, 60 days, while ABS inj. was offered at €1670-1680/ton with the same terms.
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