SunSirs: Weak Demand & Increased Supply, China ABS Market continues to be Weak
December 06 2021 15:14:48 SunSirs (Selena)
According to SunSirs, the domestic ABS market generally weakened in early December, and the spot prices of various brands were mostly reduced. As of December 3, the average price of mainstream offer of general-purpose ABS was about 16,050 RMB/ ton, up or down -0.93% compared with the price level at the beginning of the month.
The overall upstream market of ABS is weak, and the cost side support of ABS is weakened. In terms of operating rate, recently, the shutdown and maintenance equipment and resumption of production capacity are mutually present. In addition, the new production capacity of polymerization plant is implemented, and the overall supply is increased. Double limit and other environmental protection policies still have an impact on the market. The bad overseas market drags the domestic price, the on-site demand is weak, the merchant shipping pressure is increased, and the goods are passively reduced.
SunSirs analysts believe that the spot market of ABS continued to decline in early December, and the overall trend of the three upstream materials was weak, which weakened the assistance to ABS. The domestic spot price is mainly affected by the gradual weakening of demand and the reduction of market momentum. It is expected that China ABS spot market may still fall in a narrow range in the short term.
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