Recently, the domestic ABS market has rebounded after a decline, and spot prices have rebounded in a narrow range. According to the Commodity Market Analysis System of SunSirs, as of June 12th, the average price of ABS sample products was 10,400 RMB/ton, a decrease of -0.24% compared to the average price level at the beginning of the month.

On the supply side: Last week, the high load situation in the ABS industry eased, and the burden reduction of enterprise maintenance increased. The current industry operating rate has been lowered to about 77%. The on-site spot supply is abundant, and the pressure on the supply side has slightly eased. The overall inventory has been depleted due to short supply and oversold, and the supply side has regained support for the spot market.

In terms of raw materials, the overall performance of ABS upstream three materials has been poor recently. The raw material acrylonitrile market continued to decline. In the near future, some devices are planned to be shut down for maintenance. Although the supply of acrylonitrile will slightly decrease in the short term, the overall situation is still relatively loose. In the medium to long term, the supply of acrylonitrile will continue to increase.

Last week, the domestic butadiene market was weak and volatile. The external market is still weak, downstream inquiries are cautious, and high-end offers and transactions are poor. The market lacks sustained positive boost, and the domestic butadiene market may continue to be weak in consolidation.

Recently, the price of styrene in the market has risen and fallen. International oil prices have fallen, costs are poor, and the styrene market maintains a bearish attitude towards the hot off-season. Spot demand is the main focus, and the expected short-term decline in the styrene market is the main.

In terms of demand: Currently, downstream factories, including the main terminal home appliance industry, have average stocking enthusiasm, and the operating rate is generally at the off-season level. The manufacturer is cautious and wait-and-see. Last week, there were some restocking operations, but overall demand improvement is limited.

Recently, the upstream three materials of ABS have weakened, providing poor support for the cost side of ABS. The construction of petrochemical plants has slowed down, and the market supply of goods has begun to decrease. The pressure on on-site inventory has eased, but the demand side support is limited, maintaining a weak and rigid demand pattern overall. It is expected that China ABS market may form a weak supply and demand trend in the off-season, with limited decline.

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