Updated to mid-November 2009
Asian market review by Clive Ong, ICIS pricing
Asian acrylonitrile-butadiene-styrene (ABS) spot prices breached $1,500/tonne CFR (cost and freight) China in the second half of August with active trades in the key Chinese market amid the manufacturing season.
However, in September, prices slipped below $1,500/tonne CFR China as business slowed ahead of the Chinese National Day holidays in the first half of October. Prices soon reached the low-$1,400s/tonne CFR China as trades grounded to a halt in China.
By the second half of October, the export manufacturing season had largely ended. As a result, the resin price was propped up by firm energy and feedstock costs. Firm styrene monomer and acrylonitrile (ACN) numbers held up ABS values in November. Sporadic trades were concluded in the mid-to-high $1,400s/tonne CFR China.
European market review by Stuart Moir, ICIS pricing
Pricing of ABS in Europe rose from mid-August to October, then plateaued in November as producers had been looking to recoup high butadiene values.
Sellers bemoaned poor margins, stating that profitability had to be improved. September saw increases of €20-30/tonne and October another €40/tonne, before November stalled at a rollover.
Manufacturers had been looking for increases of between €50-100/tonne in both September and October to recoup butadiene costs, but buyers’ resistance had been strong, following a continuing downward trend on monthly styrene values.
November’s rollover after another styrene drop offered sellers some margin relief, but most sources said that profitability along the entire styrenics chain was extremely poor.
Demand picked up in September and continued to be strong until late October, spurred mainly by government stimulus packages for the automotive industry. November ABS consumption started to wane slightly as the seasonal slowdown towards Christmas was beginning.
US market review by Ben Lefebvre, ICIS pricing
ABS prices were assessed in the US at 92-102 cents/lb DEL (delivered) for medium-grade extrusion material and 100-108 cents/lb DEL for medium grade injection material on 30 October.
During the three-month period ending 30 October, prices crept up by a few cents/lb during the preceding months, driven by higher butadiene costs and consistent, but not spectacular, downstream sales.
Producers had hoped to see higher sales amid a government subsidy on auto trade-ins, but the programme mostly helped automakers clear inventory without having to manufacture many new cars.
Buyers have seen prices rise despite solid demand. They expect ABS values to remain flat for the rest of 2009 as butadiene costs stabilise and the US manufacturing season winds down for the year.
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Acrylonitrile-butadiene-styrene copolymer
Uses and Outlook
Acrylonitrile-butadiene-styrene (ABS) is the largest-volume engineering thermoplastic resin. Traditionally, it has been positioned between commodity plastics, such as polystyrene (PS) and polypropylene (PP), and the higher-performing engineering thermoplastics, for example polycarbonate and polyurethane.
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Acrylonitrile-butadiene-styrene copolymer
Process Technologies
ABS was patented in 1948 and introduced commercially by Borg-Warner in 1954. There are three main polymerisation processes used: Emulsion process (oldest and least clean); Suspension (blending high rubber content medium with SAN); Continuous mass (clean, cost effective but lacks flexibility).
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