ABS Weekly highlights

Petrotahlil:

Poor margins push ABS prices higher in China

• Import ABS climbs $20-30 

• Crude oil futures rally 

• Demand slightly improves 

• Spot ACN falls for 4th week in a row 

• Styrene fails to maintain earlier gains

Import ABS prices re­bound in SEA

• Import ABS up after seven weeks of los­ses 

• Buying interest im­proves 

• Styrene supported by tightness in Asia 

• ACN remains on dow­ntrend 

• China’s ABS market maintains its rebou­nd

ABS market retreats further in Europe, eyes on styrene

• Fresh small discou­nts visible on the low ends 

• Demand remains dis­couraging 

• Supply is more than comfortable 

• July expectations are mixed, ranging from stable to slight­ly softer 

• Styrene’s recent rebound is expected to be short-lived

Italy’s ABS market retains weakness, July expectations are voiced

• ABS market loses further ground on the week 

• Slack demand, ample supply weigh on the market further 

• July SM expectations centered on rollovers to slight decreases 

• Stable to slightly softer ABS trend awaited for July

Egypt's ABS markets steady on thin trade, firm costs

• Import, local ABS offers flat at around 3 year low 

• Prices fail to find support from cost-­side 

• Demand remains slow amid ample supplies 

• Overall weakness in activities pressure market

Import ABS market gives signs of stabilization in Turkey

• European ABS fell by €150 in total 

• Import ABS stands at more than 3 and a half year low 

• Local ABS offers kept stable 

• Asian ABS makers lifted offers on poor operating margins

Follow us on Twitter @petrotahlil 

END