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SunSirs: Strong Demand & Stable Cost, China ABS Rose High in October
November 06 2020 10:03:07SunSirs(Selena)

According to SunSirs, China domestic ABS market was active in October, and most of the spot prices in the market showed a strong trend. As of November 1, the mainstream offer price of general-purpose ABS was about 17,500.00 RMB/ ton, which was 17.06% higher than the average price at the beginning of the month.

ABS upstream, domestic styrene market rose actively in October. In terms of inventory, total inventory in East China was 237300 tons at the end of October, down 2.14% on a weekly basis. The domestic operating rate was about 85.51%, maintaining a high level. In addition to the tight spot supply in South China, the styrene supply in other regions was moderate. It is expected that styrene will be the main finishing agent in the near future. On the supply side, it is reported that some acrylonitrile production lines have maintenance plans in October, which is good for spot prices. It is expected that acrylonitrile will be stronger in the near future, but the price increase will be limited. In addition, in the short term, the domestic butadiene market is mainly high-level finishing.

In October, the domestic ABS market was strong and the spot price continued to rise. In terms of supply, domestic ABS supply is generally tight, and the pattern remains unchanged. It is reported that the arrival volume in South China is relatively large, which has a negative impact on the profit margin, but there is a large gap in terminal demand at present. Domestic major household appliance enterprises, automobile industry and other consumption remained high, aggravating the market supply tension. Although the lower reaches are resistant to high price goods, the demand side is stable and has the potential to extend the traditional peak season.

Market Forecast:

SunSirs analysts believe: China ABS market remained positive in October, prices of various brands continued to rise. On the cost side, the trend of the upstream three materials in October was generally strong, and the cost side had strong support for ABS. At present, ABS spot supply is still tight, the downstream demand is strong, and the trading is stable. It is expected that China domestic ABS price will continue to be better in the near future.

 

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