China’s ABS market remains quiet on thin activities
In China, ABS prices remained mostly stable over the past week as muted demand continued to weaken the market sentiment, although butadiene and ACN prices posted some weekly increases. Spot styrene prices on an FOB Korea basis, however, declined again at the beginning of this week after gaining some ground in the previous week. Most buyers did not prefer to replenish their stocks while distributors also refrained from building up extra inventories as they are still sourcing small volumes due to weak downstream demand. Import ABS prices were reported at $1070-1170/ton on a CFR China/Hong Kong, cash equivalent basis, stable on the low end while declining around $20/ton on the high end from a week earlier.