24 August 2012 12:49 [Source: ICB]
Asian acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) resins prices retreated as demand in China waned amid low consumption in European and US markets, Asia's largest markets for the resins.
While the third quarter manufacturing season in China has started, consumption of resins remains lackluster with no immediate sign of recovery soon.
Slowing global economics has reduced demand for Asian made goods. Consequently, consumption of resins has also fallen as factories in China saw fewer orders for finished products. Spot prices of ABS declined to as low as $1,920/tonne (€1,555/tonne) CFR (cost & freight) NE (Northeast) Asia.
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