ABS extends gains under shadow of fragile demand in China
Petrotahlil :
ABS extends gains under shadow of fragile demand in China
• Import prices increase $20-40 on week
• Operating margins for ABS remain poor
• Sellers not satisfied with slightly improved demand
• ACN, butadiene, styrene see weekly drops
• Players hope trade tensions will ease after G20
Import ABS market stays on uptrend in SEA
• Import ABS up further by $30-50 on week
• Sellers ask for increases amid poor margins
• Buying interest below expectations
• ACN, butadiene and styrene lose ground
• Outcome of G20 Summit closely monitored
Fresh smaller decreases anticipated for July ABS in Europe
• Activities slow down further
• Fundamentals remain weak
• Butadiene contracts agreed €50 lower for July
• Players wait for stable to slightly lower July SM
• Slightly softer expectations prevail for ABS
Unsupportive factors hint at a slightly softer trend for July ABS in Italy
• Activities almost muted on softer expectations
• Buyers sidelined, supply still comfortable
• Import from S. Korea maintain competitiveness
• July butadiene contracts settled down by €50
• July SM awaited stable to slightly down
Egypt's ABS markets down to three-year low
• Import ABS offers down by $10-40
• Distribution market decreases EGP1000
• Supply still comfortable amid low buying interest
• Expectations for July remain bearish
July ABS offers from S. Korea emerge in Turkey
• S. Korean ABS revealed stable to lower for July
• Korean ABS dealt $120 below June
• May ABS imports rose 27% m-o-m; 17% y-o-y
• July SM awaited stable to slightly softer in Europe
• Trading activities remain subdued
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