Domestic ABS market in March continued the previous weak trend and expanded, and the market spot price will be larger. As of April 1, the prevailing offer price of general grade ABS was around 10850.00 RMB/ton, down 14.90% from the average price level in early March.

Industrial Chain: ABS upstream, styrene market in March big decline. The first half of the month by the oil and chemical industry bad news, domestic styrene prices fell. To the second half of the month is directly reflected in the cost side of the weak trend drag styrene prices. Towards the end of the month, panic intensified in Europe and the US, and prices fell sharply in overseas markets. The price gap in various regions, and arbitrage exists space, with some domestic hedging operation, on the basis of the weak market pressure. Although domestic supply fell at the end of the month, factory and port inventories are expected to fall. However, the market bears a heavy bearish intention. Coupled with the impact of overseas health events, the market is not optimistic about the future. Although there are some bottom-hunting phenomenon, it is still unable to stop the price down. 

In the first half of the month acrylonitrile was also affected by the oil and chemical industry negative news. In addition to the recent increase in production capacity, the field obvious negative. Downstream of the rate of return to work was less than before the festival, even at the end of the month load down. Stock just need a small number of orders. Demand contraction is difficult to improve in the short term. At present, the market is short of a good boost, the depressed attitude of the industry. Acrylonitrile market is expected to be difficult to improve in the near future. 

In March, the domestic butadiene market continued the weak downward trend. The crude oil slump and other macro bad news led to the cautious mentality of domestic merchants. Downstream inquiries drag down the price pressure on the supply side, and the overall market focus continues to decline. 

In addition, the European market supply pressure, the downstream of the rubber industry inventory high, and the market is not lack of low prices heard. 

At present, the domestic spot supply of butadiene is abundant, but the export situation of downstream products market is not good, and the inventory of synthetic rubber industry in the middle end of the industrial chain is high and under pressure. And the recent supply of butadiene in Europe is abundant, the market is not lack of low news heard, to the domestic businessmen mentality to bring obvious drag.

At the same time, the domestic market low transaction news spread, dragging butadiene market overall decline. Internal and external disk supply and demand fundamentals in the short term difficult to support the good news. Short-term domestic butadiene market prices continue a weak downward trend. It is recommended to pay attention to the internal and external disk transaction news guidance. 

Market Forecast: SunSirs think that on March ABS market fell. The spot decline of each brand extended. The cost side of the upstream three recent trends are not good, ABS spot supply is more adequate, but downstream demand is weak. Market was mainly dominated by negative factors, and the news of the outer side of the negative. Business confidence was hit and actively cut prices. Domestic ABS prices are expected to continue to weaken in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.