24 April 2012 06:50 [Source: ICIS news]
Spot ABS prices were around $2,080-2,130/tonne (€1,581-1,619/tonne) CFR China in mid-April but lower-priced deals have been heard in the market in the low $2,000s/tonne CFR China since last week.
Some sellers continue to offer at above $2,100/tonne CFR China but it is increasingly difficult to maintain such prices when other sellers are selling at lower prices.
Declining BD and ACN prices have dampened the sentiment of ABS buyers.
ACN prices fell to $2,225/tonne CFR NE Asia for the week ended 21 April from its recent peak of $2,350/tonne CFR NE Asia in early April.
BD prices fell to $3,225/tonne CFR NE Asia after peaking at $3,575/tonne CFR NE Asia in the second half of March.
“Some sellers have liquidated stocks in view of weakening feedstock prices and poor demand,” said a trader in
However, a number of sellers remain cautiously optimistic that demand in the region will show signs of improvement after 1 May holiday in the region, although a significant increase may emerge only in June.
“Strong buying momentum will likely appear in June ahead of the Chinese manufacturing for the exports season in the third quarter,” said a Taiwanese producer. Demand for ABS in the Asian market has been weak as the
The slower economic growth in
ABS is used to make office equipment, consumer electronics, toys, automobiles as well as in the construction industry.
($1 = €0.76)
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