10 May 2013 09:47 [Source: ICB]
Spot prices of ABS fell below $1,850/tonne (€1,406/tonne) CFR (cost & freight) NE (northeast) Asia in the second half of April from around $2,055/tonne CFR NE Asia in the second half of February, according to data from ICIS.
"With energy futures and styrene prices on a firm trend, ABS prices are finding some support," said a producer in southeast Asia.
Traders in Hong Kong also reported some stabilisation in prices as sellers did not want to meet lower bids. "Some bids were at $1,800/tonne and below but remained unfulfilled as sellers were unwilling to lower prices," said a trader in Hong Kong.
ABS BELOW HIPS
ABS prices have fallen even below high impact polystyrene (HIPS) values. It used to command a premium of $200/tonne or more in the past. "Having price of ABS below HIPS is untenable for the longer term as users of HIPS will switch," said another resins dealer in Hong Kong.
Meanwhile, suppliers expect prices to gain slowly as excess supply remained in the south China market. Weak exports of finished goods to the US and eurozone have dampened demand for ABS.
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