16 July 2013 16:14 [Source: ICIS news]
While current demand levels for July have not dropped below those of May or June, participants were hopeful that this month may see a slight pick up in demand ahead of the traditional August holiday period.
“Everyone was expecting July [demand] a bit better than April and May, but July is more or less on the same road,” a SAN buyer said.
“We know already August [demand] will be lower as expected,” a producer said, adding: “We expected a pick up [in July] but it never came. The situation in Asia is not helping.”
Demand for SAN in Asia is facing the same challenges as acrylonitrile-butadiene-styrene (ABS) in the region. Weak domestic buying interest is leading Asian producers to try and export higher than usual levels of SAN to Europe.
Buyers and sellers in the European SAN market said South Korean producers were offering SAN at prices between €1,550-1,650/tonne ($2,013-2,143/tonne) free delivered (FD) west Europe and Italy. A seller said that prices of €1,550/tonne FD Italy were likely to be for large cargoes of up to 400 tonnes, rather than one or two containers’ worth.
There was still some optimism for European July demand levels, with some sources saying that there has not been a noticeable decline in demand ahead of August, and current demand levels, while not rising, were at least ‘stable’.
($1 = €0.77)
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