ABS prices extend slight drops into third week
In Southeast Asia, ABS prices extended their modest decreases into a third consecutive week in line with a recent slowdown in demand. Import ABS prices were reported at $1350-1400/ton on a CIF SEA, cash equivalent basis, with the range indicating decreases of $10-20/ton on a week over week basis. A trader operating in Malaysia reported that their Taiwanese supplier issued a downward revision of $30/ton on their ABS offers, bringing their new prices to $1350/ton CIF Malaysia, cash. A source from a Thai producer whose offers stand at $1400/ton CIF, cash stated, “Demand is a bit weak in Southeast Asia nowadays.” An Indonesian trader commented, “We are currently holding onto our ABS stocks and planning to wait until our supplier issues further decreases on their offers. ABS prices have recently been tracking a downward trend in the regional markets in the face of sluggish demand.” A second trader in Indonesia opined, “Demand is worsening as buyers are more cautious on their purchases nowadays as they now expect to see further losses in prices. However, crude oil prices have been tracking a firm path in recent days, which seems to have affected monomer markets. Hence, the expected discount amounts may be limited by these recent upstream gains.” A converter in Malaysia also said, “We see regular demand for our end products nowadays. For now, we are not planning to replenish our stocks as we believe that ABS prices may see further downward movements in the coming term.”