08 May 2012 08:09 [Source: ICIS news]
By Clive Ong
ABS spot prices fell below $2,000/tonne (€1,540/tonne) CFR (cost & freight) China for the week ended 4 May with sporadic deals heard as low as $1,930/tonne CFR China.
ABS prices had peaked at $2,190/tonne CFR China in March this year.
Market sentiment turned increasingly bearish last week amid the precipitous fall in feedstock butadiene (BD) prices to around $2,500/tonne
BD prices peaked at around $3,950/tonne CFR NE Asia in the first half of February this year.
“The BD prices fall has prompted traders to offload ABS resins,” said a trader in
The lacklustre demand for ABS in the key Chinese market has also spurred traders to reduce inventories.
“Demand might pick up only towards the middle of the year ahead of the manufacturing season in
Demand in the key Chinese market has not picked up after the May Day holidays as previously expected by some ABS suppliers.
A number of sellers attributed the lack of buying interest to the weak economic conditions in the eurozone and the
“There is much headwind for the ABS sector this year as the Chinese exports sector is weaker due to poor demand in
ABS resins are used in office equipment, consumer electronics, toys, as well as the automotive and construction sectors.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|