In recent times, the domestic ABS market has continued to be negative, with most brand spot prices being lowered. According to the Commodity Market Analysis System of SunSirs, as of May 21st, the average price of ABS sample products was 12,150 RMB/ton, a decrease of -2.61% from the price level on May 1st.
Supply level: The load of the domestic ABS industry has increased due to the improvement of the profitability of aggregation enterprises in the early stage. Recently, the average operating rate of domestic ABS enterprises has continued to increase, currently reaching around 65%. The production has increased synchronously, and the supply of goods on site has also increased accordingly. And there are still expectations for improvement in the future, with supply side support for ABS spot gradually weakening.
Cost factor: Recently, the trend of ABS upstream materials has generally weakened, with concentrated resumption of acrylonitrile maintenance equipment and lagging downstream consumption follow-up, resulting in a certain supply-demand contradiction in the market. The current acrylonitrile market is bearish.
Recently, the domestic butadiene market has been weak. There is a trend of supply relaxation, while downstream demand remains unchanged. The external market prices continue to weaken, and the news of low-priced transactions stimulates the domestic market, resulting in low buyer inquiry intentions. The mentality of merchants is gradually becoming empty, and the market is consolidating its weakness.
Recently, the styrene market has stopped falling and rebounded. The strong trend of upstream pure benzene provides support for the styrene market. Although the market demand is mainly for basic needs, there are some production line maintenance plans in the future, and there is an expectation of supply reduction. It is expected that styrene will continue to strengthen consolidation in the future due to factors such as cost.
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