11 June 2012 05:11 [Source: ICIS news]
By Clive Ong
ABS prices held steady in the low $1,800/tonne (€1,440/tonne) CFR (cost and freight) northeast Asia (
External demand for Asian-made products has significantly weakened, with
ABS is a resin used to manufacture toys, consumer electronics, office equipment and is used in automotives and construction sectors as well.
While the markets appeared to have stabilised somewhat over the weekend after Spanish banks managed to secure some bailout funds, ABS market players anticipate that there could be further volatility in the energy and petrochemical markets.
Energy futures rose above $86/bbl on Monday after plunging to the low-$80/bbl levels at one point last week. However, ABS prices showed limited signs of improvement so far.
ABS players in Asia are bracing for a weaker-than-expected seasonal pick-up in manufacturing activity in the key
Europe, which is saddled by mounting debts, and the
“End-users have limited orders for finished goods, and hence, demand for ABS is likely to remain weak in the near term,” said a Taiwan-based producer.
($1 = €0.80)
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