ABS Weekly highlights, Aug 19.

Petrotahlil :

ABS retains downtrend with frail demand on center stage in China. 

• Producers apply $20-30 cuts on week

• Spot SM remains downwards in Asia

• NYMEX crude pares some of earlier losses

• Trade dispute fears still pervades market

• ACN up further, butadiene flat on week

• Import prices ($/ton): 1370-1450 CIF

SEA ABS market plunges to 3-year low. 

• Import prices see up to $60 drops

• Buyers expect further price cuts

• Volatile crude oil weighs on sentiment

• Spot ACN climbs further by $25

• Import ABS inj. ($/ton): 1350-1450 CIF

Aug ABS offers partially follow SM hike in Italy’s market. 

• Stable to firmer prices surface in ABS market

• €30-35 increases announced by producers for Aug

• Holiday lull weighs on buying sentiment

• Early voices for increases in Sept emerge among players

• Local ABS (€/ton): ext. 1430-1530 | inj. 1450-1590 FD

European sellers announce stable to firmer ABS offers for Aug. 

• Initial Aug offers indicate rollovers to increases of €30-35

• European ABS producers aim to recover margins

• Market activities are calm on summer break

• Players started to voice their expectations for September

• Local ABS (€/ton): ext., inj. 1500-1610

ABS hikes from Europe see resistance in Turkey. 

• Trading activities stalled ahead of Eid

• Spot SM hits 4-month low on CFR China basis

• Saudi ABS natural at $1370 CIF found unworkably high

• ABS market may be prone to further drops

• Import (N) ($/ton): Korea ABS 1410-1420 CIF

• Local (N) ($/ton): 1550-1600 not inc. VAT

Buying interest wanes as holiday mood takes over Egypt’s ABS markets. 

• Prices unchanged in import market, deals scarce

• Local offers steady for second week in a row

• Festive mood weighs on sentiment

• Import ABS ($/ton): 1490-1520

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