10 April 2012 09:52 [Source: ICIS news]
By Clive Ong
SINGAPORE (ICIS)--Asian acrylonitrile-butadiene-styrene (ABS) prices declined sharply last week as a number of producers cut offers to stimulate demand though consumption is seen weak in the absence of factory orders, traders said on Tuesday.
Offers of some major suppliers fell by more than $100/tonne (€76/tonne) to the low $2,100/tonne CFR (cost and freight) ?xml:namespace>
“The sharp reduction is offers is just an effort by the producers to bring offers more in line with spot prices,” a trader in
Spot prices in
Despite the lower offers, demand remains weak with buyers delaying commitments.
Most end-users of ABS have limited orders on hand while others anticipate further weakness in prices in the near term and have decided to wait and see.
The feedstock prices of ABS were mostly stable this week but could not prevent resin prices from declining.
Styrene monomer (SM) prices were unchanged in the high $1,400s/tonne CFR China, while butadiene (BD) and acrylonitrile (ACN) values were mostly stable at $3,500/tonne CFR NE Asia and $2,400/tonne CFR NE Asia respectively.
“The weak economic conditions in the
With the May Day holidays in
“The market will wind down again in a couple of weeks as May Day approaches, so a significant improvement in demand might only emerge in June,” said a Taiwanese producer.
ABS is an impact resistant resin used in the manufacturing of toys, consumer electronics, office equipment, automobiles as well as the construction industry.
($1 = €0.76)
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