ABS Fluctuated And Rose in Early April

At the beginning of April, the domestic ABS market fluctuated and rose, and the spot prices of various brands increased within a narrow range. As of April 7, the average mainstream offer price of general-purpose ABS was about 15,150 CNY/ton, a rise or fall of +1.68% compared with the price level at the beginning of the month.

Industry chain: In terms of raw material styrene, the spot market of styrene this week was sorted and operated, and it was tested on the 7th. The two styrene plants of Zhejiang Petrochemical and Hebei Shengteng were temporarily shut down for maintenance, and the superimposed port inventory fell. Due to concerns about the market supply, the styrene spot market rose. Recently, the raw material pure benzene fluctuated and rose. main.

The market for acrylonitrile recovered somewhat in early April. In terms of supply, some companies' maintenance plans were implemented as scheduled, and the spot quantity in the field was reduced. The performance of downstream demand is general, and it is expected that the acrylonitrile market may be affected by weak demand and weaken stagflation in the short term.

Entering this month, the domestic butadiene market has been consolidated at a high level, and the growth has slowed down. The operating rate of the industry continues to decline and logistics and transportation are limited, and the market spot resources are tight, which has a certain support for the market. At the same time, the high price of butadiene has put pressure on downstream profits, the operating rate of downstream industries has dropped, and the butadiene market demand has gradually weakened, which also suppressed the market.

At the beginning of April, the overall support of the upstream three materials on the ABS cost side was acceptable. In terms of industry load, this week, due to the overhaul of some domestic production lines, the operating rate of ABS companies has dropped slightly, and the overall supply forecast has decreased. The manufacturer's mentality has been strengthened, and the ex-factory price has been adjusted. Coupled with the gradual increase in demand from the main downstream home appliance industry in April, the demand for ABS in the field has improved. However, my country's health incident has rebounded recently, and logistics and production in some areas have been affected, suppressing a certain amount of demand. There has been no substantial progress in the situation in Eastern Europe, Russia and Ukraine, and the far-end upstream crude oil market is quite divided, but the price is still at a high level.

Market outlook forecast:

At the beginning of April, the ABS spot market rose, and the upstream three materials rose more and fell less, forming a strong support for the cost side of ABS. The domestic spot supply is temporarily abundant, the load of ABS enterprises has dropped, and the supply in the future may be tight. In terms of demand, home appliance companies have heavy demand in stages, and production companies have a strong mentality, but the terminal follow-up situation is general, and the market supply and demand game market is obvious. It is expected that the ABS spot market may enter a stalemate in the short term.