18 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European acrylonitrile-butadiene-styrene (ABS) prices have dropped €50/tonne because of the falls in the feedstock styrene (SM) and acrylonitrile (ACN) contract prices, sources confirmed on Friday.
A producer that initially tried to limit its reductions to €20/tonne had to lower its offers because of pressure from other European producers. A buyer said it had achieved reductions of €80/tonne from suppliers, but this was not confirmed on the sell side.
Cheaper Asian material available throughout the month put additional pressure on some European producers to lower prices.
Demand levels have been satisfactory for most players throughout the month. One producer said it had seen strong demand, though the drivers behind this demand was not clear.
Many market participants were attending the three-yearly K Fair in Dusseldorf, Germany, which runs from 16-23 October.
Compounding grade (natural) was assessed by ICIS at €2,170-2,185/tonne FD (free delivered) NWE (northwest Europe), injection moulding (natural) at €2,260-2,290/tonne FD NWE and extrusion grade (natural) at €2,185-2,290/tonne FD NWE according to ICIS.
($1 = €0.74)
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