News Code : 42705

•Seller: ABS natural demand performs better •Sellers’ controlled imports keep supply in check •Crude oil hits over 5-month high on average •Economic woes pressurize buying appetite •Import (N) (€/ton): Europe ABS 1530 CIF •Import (N) ($/ton): Korea ABS 1610-1660 CIF •Local (N) ($/ton): 1730-1800 not inc. VAT

Petrotahlil:

⚫Import ABS prices move back up in SEA

• Sellers renew confidence on bullish crude 

• Offers from South Korea rise $10-20 

• Cautious improvement seen in buying interest 

• Spot ACN up further by $10 on week 

• Styrene’s rebound proves short-lived

• Import ABS inj. ($/ton): 1580-1640 CIF

 

⚫ABS sellers attempt to lift market in China

• Offers from Taiwan, Korea up $20-30 

• Sellers resume firm stance after 2 weeks of declines 

• Styrene fails to maintain its rebound, down on week 

• Spot ACN climbs $10, butadiene down $15 

• Buying sentiment cautiously improves

• Import prices ($/ton): 1560-1670 CIF

 

⚫Sellers’ initial hike targets met resistance in Europe’s ABS market

• A few April deals were concluded €70-80 higher 

• Weak demand hampers sellers’ initial hike targets 

• No supply concerns despite a few output outages

• Import ABS (€/ton): S. Korea ext. 1580-1600 DDP 

• Local ABS (€/ton): ext., inj. 1670-1770 FD

 

⚫Higher ABS prices dampen demand further in Italy

• Initial April deals start to see hikes of €70-80 

• Demand remains weak regardless of sellers’ discounts 

• Sellers’ stocks are still high despite turnaround season 

• Activities may slow down further due to imminent festivities

• Import ABS (€/ton): S. Korea inj., ext. 1550-1580 DDP 

• Local ABS (€/ton): ext. 1650-1720 | inj. 1630-1700 FD

 

⚫Tepid ABS demand outweighs higher costs in Egypt

• Both import and local markets unchanged 

• Market demand remains subdued 

• Liquidity issues continue hampering sales 

• Players do not expect an imminent recovery

• Import ABS ($/ton): 1640-1700 CIF

 

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