Price trends:

According to the data of business associations, the ABS market in China was weak in early August, and prices fell. As of August 9, the mainstream offer price of general-purpose ABS was about 12650.00 yuan/ton, down 1.17% from the beginning of the month.

2. Analysis of influencing factors:

Industry chain: ABS upstream, styrene market prices fell in early August, a larger decline. Most domestic enterprises reduce prices and promote sales, the downstream mainstay of low demand, spot to maintain the “buy-up-not-buy-down” mentality, wait-and-see aggravated. Recently, international oil prices and pure benzene have fallen continuously, and the news on the periphery continues to be negative. Domestic enterprises have stepped up their inventory, and merchants have a higher intention to ship goods, so they are more willing to let profits go single. Styrene is expected to be dominated by low-end finishing next week; spot supply of acrylonitrile-related products is slightly tight in August, downstream demand maintains just demand, and supply and demand in the field are basically balanced. Recently, the domestic acrylonitrile quotation is relatively stable; in early August, the domestic butadiene price continued to rise, Sinopec’s supply price continued to adjust to the high level of 10,000 yuan, a small amount of supply in Northeast China increased prices broadly, and the shortage of spot resources in East China boosted the high level of the market. The spot resources in East China are limited, and some of the high-priced goods in North China inflow to supplement. Inventory lows sustain a continuous rise in supplier prices, and high spot prices continue to boost the market. Butadiene supply side is not pressured for the time being, and the market is hard to find a low price source. Upstream three materials support ABS poorly, downstream household appliances and other factories start-up rate is reduced, supply exceeds demand. Trading is weak, business people are more open-minded.

3. Future market forecast:

Business analysts believe that ABS offer continued to fall in early August. The upstream support for ABS is not good, and the downstream factory demand is weak, the market is empty and the transaction is slow. The negative impact is stronger than the positive. It is expected that the recent trend of ABS offer will continue to be weak.