ABS Weekly highlights, Aug11.

Petrotahlil :

Local ABS market hits 3-year low in China. 

• Import prices down $40 on week

• Concerns over trade war grow

• Weaker yuan weighs on demand

• Crude oil, styrene plunge

• ACN, butadiene increase further

• Import prices ($/ton): 1370-1480 CIF

Muted ABS demand overshadows firmer ACN, butadiene in SEA. 

• Import ABS market sinks to two-month low

• Escalation of trade tensions weighs on sentiment

• Sellers open to give extra discounts on deals

• Spot styrene, crude oil futures decline

• ACN, butadiene post weekly gains of $15-20

• Import ABS inj. ($/ton): 1410-1480 CIF

Aug ABS offers partially follow SM hike in Italy’s market. 

• Stable to firmer prices surface in ABS market

• €30-35 increases announced by producers for Aug

• Holiday lull weighs on buying sentiment

• Early voices for increases in Sept emerge among players

• Local ABS (€/ton): ext. 1430-1530 | inj. 1450-1590 FD

European sellers announce stable to firmer ABS offers for Aug. 

• Initial Aug offers indicate rollovers to increases of €30-35

• European ABS producers aim to recover margins

• Market activities are calm on summer break

• Players started to voice their expectations for September

• Local ABS (€/ton): ext., inj. 1500-1610

ABS hikes from Europe see resistance in Turkey. 

• Trading activities stalled ahead of Eid

• Spot SM hits 4-month low on CFR China basis

• Saudi ABS natural at $1370 CIF found unworkably high

• ABS market may be prone to further drops

• Import (N) ($/ton): Korea ABS 1410-1420 CIF

• Local (N) ($/ton): 1550-1600 not inc. VAT

Buying interest wanes as holiday mood takes over Egypt’s ABS markets

• Prices unchanged in import market, deals scarce

• Local offers steady for second week in a row

• Festive mood weighs on sentiment

• Import ABS ($/ton): 1490-1520

Follow us on twitter @petrotahlil 

Source:Chemorbis

END