Acrylonitrile butadiene styrene Prices, markets & analysis
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Acrylonitrile butadiene styrene China Transcript
The Acrylonitrile Butadience Styrene, or ABS China report is produced weekly and provides important price assessments for domestically produced material.
Domestic ABS production is mainly centred in East and South China and quoted are included on a delivery South and East China basis. Imports, especially in South China are important, and the report put these contacts by providing a key CFR China quote and information on Chinese imports and exports volume.
The CFR Hong Kong price is also provided.
Commentary in the text also include details of major Chinese producers and e-work prices.
The commentary includes supply and demand information such as plant shut downs, start up and feed stocks, and downstream insights.
The report is generated after discussion with buyers, sellers and traders of ABS. We use a wide range of resources and also ensure that we cross-check details. The helps to make sure that our reports are very accurate and useful tour customers
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Updated to Q1 2015
Early in January, some producers cut their EXW prices, but consumption was slow because of weak buying interest. FCFC (Ningbo) raised the operating rate at its 450,000 tonne/year unit to 100%. Offers were mainly at CNY12,000-12,800/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H, down by CNY200-300/tonne from last month.
In mid-January, feedstock styrene monomer (SM) values were firm while acrylonitrile and butadiene values decreased sharply, which injected little strength into the prices. By 16 January, offers were CNY11,600-12,700/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H, down by CNY100-400/tonne. Major producers ran their units at stable rates. Downstream producers mostly purchased to cover immediate requirements. Market players do not expect prices to rise.
In late January, SM values rebounded slightly, but butadiene and acrylonitrile values continued to fall, which meant little support to the ABS market. A few market players were active in negotiating, attracted by the low prices. However, the market sentiment later became quiet as a result of weakened demand. FCFC (Ningbo) and CNOOC & LG Petrochemicals ran their units at lower rates. Downstream producers were not inclined to purchase and traders kept their inventories at low levels. Therefore, deals were limited. Market players adopted a pessimistic attitude on the market outlook. Offers were mainly at CNY11,500-12,600/tonne in the end of the month.
During February, domestic ABS prices were stable to softer in the first week. Some suppliers were more inclined to raise their offers in view of higher feedstock SM values. However, it failed to work as buying activity was subdued. FCFC (Ningbo) ran its unit at a higher rate. However, some producers, such as LG Yongxing, reported tight supply and lifted their EXW offers as a result. By 6 February, offers were mainly at CNY11,200-12,300/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
In mid-February, domestic ABS prices were mixed. SM and butadiene values rose, though acrylonitrile values fell further. Deals were sporadic as a result of weak demand because downstream producers shut their units gradually in the run-up to the Lunar New Year holiday (18-24 February). CNOOC & LG Petrochemicals ran units at a higher rate. Traders were reluctant to do business before the holiday, with a few optimistic about the market outlook supported by high costs. By 13 February, offers were CNY11,200-12,300/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
Domestic ABS prices rose in the end of the month. Trading sentiment was quiet after the holiday. Zhenjiang Chimei and FCFC (Ningbo) ran their units at a lower rate. Traders moved their cargoes according to the market conditions, but downstream producers mostly adopted a wait-and-see attitude. By 27 February, offers were CNY11,400-12,300/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
In March, domestic ABS prices rose in the first week. SM and butadiene values moved upwards, while acrylonitrile values continued to fall. Some producers raised their offers and traders moved their cargoes according to the market conditions. However, most downstream producers have not fully resumed operation after the Lunar New Year holiday and most adopted a wait-and-see attitude, which meant subdued trading. By 6 March, offers were CNY11,800-12,500/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
Domestic ABS prices fell at mid-month. Though SM values rose slightly, acrylonitrile and butadiene values both moved downwards. Some producers raised their EXW prices, as did some traders, but discussion prices for some grades fell because of weak end-user demand. By 13 March, offers were mainly at CNY11,550-12,500/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
Prices fell further in the late month because of weaker feedstock values and low demand. Regional price gaps emerged following widened discussion room of some grades. Operating rate in the ABS industry rose because Gaoqiao Petrochemical ran its unit at a higher rate, while others largely kept steady. By 20 March, offers were CNY11,300-12,400/tonne for Jilin Petrochemical’s 0215A and LG Yongxing’s 121H.
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