ABS market declines on falling feedstock values in Asia, particularly China

28-Jul-08
A sharply fall in oil markets, dipping oil prices below US$130 per barrel in the week has also affected prices of Styrene Monomer. Pressured by falling feedstock values and declining demand from China, ABS prices have toned down in Asia. Though standard offers were lowered by twenty dollars to US$2260/MT CFR China levels, resistance on the buyer's part to accept such high offers has kept deal conclusion at bay. Buyers are willing to wait and watch in anticipation of a further price drop in line with global crude values, as well as the impending customary low demand season from ABS processors.
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