Multiple Negative February ABS Import Volume Fell Below 100,000 Tons!

China imported 95,800 tonnes of ABS resin in February 2022, with an average import price of US$2,000.91/tonne. February ABS market by the Spring Festival holiday and the dual impact of supply and demand contradictions, the field mentality is weak, the overall trading atmosphere is light.

I. February 2022 ABS import volume year-on-year / ringgit

Imports in February 2022 decreased by 0.99 million tonnes, or 9.37%, compared with imports in February 2021, and by 31,200 tonnes, or 24.57%, compared with imports in January 2022.

II. Analysis of ABS data by province/producing and selling countries in February 2022

The import data from each province shows that the proportion of imports from South China and East China is unchanged, accounting for nearly 90% of the total imports in February. Among them, Guangdong Province imported 40,300 tons, accounting for 42.07%; Jiangsu Province imported 0.95 million tons, accounting for 9.95%; Zhejiang Province imported 20,500 tons, accounting for 21.36%; Shanghai imported 0.90 million tons, accounting for 9.44%; Fujian Province imported 0.65 million tons, accounting for 6.79%.

From the production and marketing country statistics can be seen in February from China Taiwan and South Korea imports accounted for nearly 70%, about 68%, including imports from China Taiwan 33,400 tons, about 34.89%; from South Korea imports 31,600 tons, about 33.02%; from Malaysia imports 11,400 tons, about 11.86%.

Third, February 2022 ABS import cost comparison analysis

The average import price of ABS in February 2022 was US$2,000.91 per tonne, up US$19.84 per tonne or 1.00% year-on-year; down US$75.69 per tonne or 3.64% YoY. The average price of ABS imports was negative due to falling demand, with the average import price showing a slight downward trend compared to last month.

IV. Outlook for next month's import data

In March, the atmosphere in the market was relatively high, with a relatively exuberant trading behaviour, boosted by international crude oil and the upstream monomer centre of gravity moving up. However, there are still risk factors such as low downstream demand and high inventory levels in the field. In summary, it is expected that the increase in ABS imports in March may be more limited.