ABS prices tumble in Asia on lackluster demand from China

13-Aug-08

Bulk production cuts from a spectrum of downstream processors has pressured ABS prices in Asia, despite a recent price down adjustment by about twenty dollars. As ABS demand continues on a downtrend in China and market outlook continues to be gloomy, and input SM and butadiene prices also continue to descend, prices for ABS have dropped in Asia. With conclusion of very few deals in China, offers from the Far East for H2- August shipment have dipped to the 2100 dollar mark. This listless demand is definitely expected to continue till the conclusion of the Olympic Games, coercing producers in South Korea, Japan and Taiwan to reduce run rates or cutback export quantities for want of better price realisation.