SunSirs: Supply is Hard, Demand is Rising, China ABS Market is Strong in September

According to SunSirs, China domestic ABS market fluctuated and strengthened in September, and most of the spot prices in the market rose. As of September 30, the mainstream offer price of general-purpose ABS was about 14,950.00 RMB/ ton, which was 1.01% higher than the average price at the beginning of the month.

ABS upstream styrene, the domestic styrene price fluctuated in the first half of September, and the market was mainly horizontal in the last ten days. Short term market conditions are not clear, it is expected that the styrene market will continue to stand in stalemate.

ABS upstream acrylonitrile, in September domestic market continued the strong trend, acrylonitrile prices are expected to stabilize in the near future.

ABS upstream butadiene domestic market showed strong performance in September, the price was stable at the beginning of the month, the market momentum in the middle of the month increased significantly, and the consolidation was high in the last ten days. It is expected that the domestic butadiene market will be adjusted mainly in the near future.

In September, the domestic ABS market offer was generally high, and the spot price was relatively strong. Domestic ABS spot supply shortage situation has not improved, month low and double festival before the stock tide, downstream factories actively stock up operation, but the theater shortage. In addition, September has always been the traditional peak season, and the demand of the home appliance industry further pushed up the spot price. Overseas continued to be affected by public health events, crude oil and futures in September were not ideal, which had a certain suppression effect on China ABS market and intensified the market wait-and-see mentality. At present, the mentality of merchants is temporarily stable, and the upsurge of replenishment before the double festival at the end of September has led to a general increase in business quotations and a warming up of trading atmosphere.

Market Forecast:

SunSirs analysts believe that: September ABS market was high and strong, the trend was more positive. The prices of various brands are firm and some of them have gone up. The trend of cost side of the upstream was also good. At present, ABS spot supply is still in short supply, and the downstream demand has increased. Business delivery resistance reduced, low-cost supply is difficult to find. It is expected that China domestic ABS price will be high in the near future.

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