Liaoning EO Technology Co.,Ltd

Liaoning EO Technology Co.,Ltd

Weak demand Asia ABS resin price lower

Asian ABS resin prices are under downward pressure, both because of slowing demand in the Chinese market and falling raw material costs. NCR data show that March 9 Asian ABS spot price fell to 2035 U.S. dollars/ton (CFR Northeast Asia), compared to the previous week fell 45 U.S. dollars/ton. The current price has fallen by nearly 3% from the 2018-year peak of $2080/ton that hit March 2, according to NCR data. Market participants said that the supply of adequate and raw materials styrene monomer (SM) prices have depressed China's buying mood, and prompted buyers to hesitate. "The decline in raw material SM prices has affected buying sentiment and prompted manufacturers to lower their quotations," one manufacturer said.

” NCR data shows that March 9 the spot price of styrene fell 65 U.S. dollars/ton to 1365 U.S. dollars/ton (CFR Northeast Asia). The arrival of imported goods in Hong Kong has also exacerbated the downward pressure on Asian abs market prices.

End-User inventory levels were high because ABS goods ordered in January and February arrived in Hong Kong last week, thereby restraining demand for further purchases. Chinese demand is also lower than expected after the Lunar New Year, and market participants are unsure when the market will get better.

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