Step-back from initial rollover attempts for ABS in Europe
Neither surging spot butadiene prices nor higher spot ACN values supported sellers’ stance. The fact that demand remained weak and supplies are comfortable pushed sellers to lower their offers despite the small drop of styrene.
A distributor in Italy reported, “We had to concede to special discounts in order to conclude deals as demand is quiet and our customers resisted initial rollover attempts. They claimed that they are able to find competitive prices for South Korean origins. It is hard to deplete stocks under these circumstances.”
On the other hand, sellers are hopeful about the second half of the month due to firmer expectations for June. They also assume that buyers’ stocks might be low as they were holding their purchases due to their bearish expectations.
A distributor from Germany reported, “Demand is calm as there is a bank holiday this week while supply is ample. Still, demand may improve in the latter part of May as we expect a change in the direction next month.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s stormy week: Hike attempts emerge after 4 months in PP, PE markets
- PVC markets fail to extend gains to Oct on economic woes, low demand in Asia
- Sentiment cautiously rebounds in Asian PP, PE markets
- Asian monomer markets react after crude oil surge
- September hikes meet resistance for ABS in Europe
- Turkey’s import PP market slumps to 3-year low on supply glut, low demand
- Import PVC demand dampened in Europe, Turkey; will it improve in H2?
- Chinese PET producers attempt for hikes first time since July
- Uptrend in spot styrene prices curtailed in Asia
- Spot LDPE, LLDPE prices hit a decade low in Italy