Europe Nov ABS prices fall €40-50/tonne on feedstock reductions

22 November 2013 23:59 Source:ICIS News

LONDON (ICS)--European acrylonitrile-butadiene-styrene (ABS) November prices have fallen by €40-50/tonne ($54-68/tonne), in line with the pass-through from feedstock cost reductions, the majority of buyers and sellers confirmed on Friday.

A minority of buyers and sellers reported reductions of as little as €30/tonne to as large as €70/tonne depending on starting point, however, reductions at either extreme could not be verified and were not seen as representative of the wider market.

Upstream acrylonitirle (ACN) November contract prices fell by €35/tonne, the November styrene contract price fell by €85/tonne, while the November butadiene (BD) contract price rose by €75/tonne. ABS sources have previously estimated the cost pass-through at €40-50/tonne.

ABS natural compounding grade November prices settled at a pre-discounted level of €2,130-2,135/tonne FD (free delivered) NWE (northwest Europe).

($1= €0.74)

By Mark Victory