As feedstock SM, ACN, butadiene prices continue to fall, they have brought down downstream ABS prices. CFR China ABS prices have dipped to US$1900 even as most sellers have quoted offers for October shipment at US$1930-1950/MT.
A chunk of buyers from China prefer to wait and watch for yet another price correction in line with feedstock SM prices that have tanked by two hundred dollars to US$1100/MT FOB Korea levels. Butadiene prices are also being estimated to fall further by almost US$500 if crude oil and naphtha prices continue to decline and weak demand persists in the wake of US financial crisis and the inevitable recession in Europe. A weakening global economy has taken its toll on the automotive industry. Sales of automobiles in mainland China, Europe and the US have dipped, exerting downward pressures on butadiene prices.
13-Oct-08 
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