Declining crude prices, sluggish Chinese demand furthers downfall of Asian ABS prices

11-Sep-08
The downfall in acrylonitrile butadiene styrene (ABS) prices in Asian market continued shattering hopes of a belated up thrust in Asian ABS demand. Owing to declining crude prices and a sluggish Chinese demand, this week the ABS prices furthered lowered by US$20-30/mt and stood in the range of US$2030-2050/mt CFR China. As per the traders, the market in Hong Kong/China was cut throat with due low demand from the end users although Taiwan and Korea ABS deals were seen unaffected. As per the current prices, the ABS producers were unable to cover their production cost over and above the raw material costs for 55% styrene monomer, 25% acrylonitrile and 20% butadiene.
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