Europe August ABS prices settle at rollover to €10/tonne reduction

22 August 2014 23:59 Source:ICIS News

LONDON (ICIS)--Prices for European acrylonitrile-butadiene-styrene (ABS) were assessed by ICIS on Friday at a rollover to reduction of €10/tonne.

Some producers had originally targeted increases of up to €20/tonne over July prices in order to improve their margins, but the €2/tonne drop in the August feedstock styrene contract led buyers to push for reductions.

The feedstock butadiene (BD) August contract rolled over, while the acrylonitrile (ACN) contract settled at a rollover to reduction of €13/tonne.

Buyers were successful in eliminating any increases in August prices, and in some cases were offered reductions of up to €10/tonne.

A distributor said it received a rollover from its supplier as it did not pay the full €30-50/tonne July increase.

Views on demand were mixed, but the majority of players said offtake levels were satisfactory for the calm August market, with some players seeing better-than-expected demand.

There were some, however, who said the August holiday season had seen a drop in demand compared to July, although this was expected.

By Matt Tudball