07 October 2013 16:23 [Source: ICIS news]
BERLIN (ICIS)--Demand in the European acrylonitrile-butadiene-styrene (ABS) market remains largely unchanged from 2012 levels, a producer of acrylonitrile (ACN) – a feedstock of ABS – said on Monday on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting.
“ABS is doing pretty OK,” the ACN producer said.
However, in terms of year-on-year growth, it added that European ABS demand was very slightly below 2012 levels.
Demand in the European market has been relatively flat throughout most of the year, with the traditional summer lull during July and August.
September demand failed to reach expected levels, however, because of high feedstock costs and a subsequent fall-off in consumer demand.
Record-high styrene spot prices at the end of August led to an increase in the styrene monomer (SM) September contract price, causing ABS consumers to retreat to the sidelines and wait for SM spot to fall.
With the €92/tonne ($124/tonne) reduction on October SM prices, ABS producers and compounders are already seeing some signs of stronger orders for October as buyers come back to the market to replenish stocks depleted during September.
October price discussions between ABS buyers and sellers are ongoing, but reductions are widely expected across the market.
The annual EPCA meeting runs from 5-9 October.
($1 = €0.74)
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