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SunSirs: Falling Raw Materials & Weak Demand, China ABS Market was Falling
November 30 2022 14:14:07SunSirs(Selena)

In late November, the domestic ABS market weakened and prices fell. According to the data monitoring of SunSirs, the average ex factory price of domestic ABS was 12,050 RMB/ ton on November 1 and 11,950 RMB/ ton on November 28, with a range of -0.83%.

In terms of raw materials, the three upstream materials of ABS weakened in late November, and the overall performance was poor. Among them, the load of acrylonitrile industry rebounded, the supply was abundant, and the spot competition was strengthened. Support for ABS cost side is reduced.

Butadiene market trend fell again. Last week, the market took on the previous narrow rebound, and the current downstream demand for butadiene is not strong enough to support the rise. The pattern of abundant supply remains unchanged, and the short-term contradiction between supply and demand still restricts the butadiene market.

In terms of styrene, the market for pure benzene fluctuated at a low level last week, and the cost support was weak. Recently, the supply of styrene is sufficient, and the downstream purchase is on demand. The spot transaction is not good, and the market continues to fall. The cost support is weak, and the short-term styrene market is expected to fall mainly.

In terms of supply: In late November, the load of ABS industry was adjusted by a narrow margin. At present, the commencement of the plant is generally maintained at more than 90%, and the supply of goods on the site continues to be abundant. The enterprise was dragged down by the raw material side, and the factory price was lowered.

Demand: At present, downstream factories, including the main terminal household appliances industry, have poor enthusiasm for stocking goods, and the overall market trading is weak. The traditional peak demand season has ended, and the overall demand for support has dropped. The wait-and-see attitude of buyers has increased, and the merchants follow the market, and the actual orders have dropped.

Last week, ABS upstream three materials fell together, weakening the support for ABS cost side. The petrochemical plant started at a high level, the weekly output was stable, and the pressure on the supply side remained unchanged. The demand side did not improve, and the seller camp reduced the price and took the goods. It is expected that in the short term, China ABS market will continue its narrow range consolidation operation.

 

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