According to news from Anxis News, Singapore on March 12th, due to the slowdown in Chinese market demand and the fall in raw material costs, Asian ABS resin prices are facing downward pressure. Ansons data show that on March 9 Asia The spot price of ABS resin fell to US$2035/tonne (CFR Northeast Asia), which was down by US$45/tonne from the previous week. Anxis data shows that the current price is already higher than the peak level of 2018 in 2018 set on March 2nd. Tons fell by nearly 3%. Market participants said that the supply was sufficient and the price of raw material Styrene Monomer (SM) dropped, suppressing Chinese buying sentiment and prompting buyers to hesitate. One manufacturer stated: 'The decline in raw material SM price affected Buy emotions and prompt manufacturers to lower their prices. '
Anxis data shows that the spot price of styrene fell by US$65/ton on March 9 to US$1365/ton (CFR Northeast Asia). The arrival of imported cargo in the Hong Kong market also exacerbated downward pressure on Asian ABS market prices. End-user inventory The level is higher because ABS cargoes ordered in January and February arrived in Hong Kong last week, thus curbing the demand for further purchases of spot goods.
After the Lunar New Year, Chinese demand is also lower than expected. Market participants are also not sure when the market will improve.