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Asian ABS resin prices remain under pressure

September 06/2011

(ICIS) -- The downward pressure on the prices of acrylonitrile-butadiene-styrene (ABS) resin in Asia still remains because of the continuing weak demand in the key Chinese market, traders and producers said on Tuesday.

The uncertainty about the US and eurozone economies has dampened demand for Asian exports and consequently consumption of ABS has also weakened, said a trader in Hong Kong. The weak economic outlook in the US and the ongoing debt crisis in the eurozone reduced orders for finished goods flowing to Chinese factories this year.

Spot ABS prices dipped below USD 2,200/tonne (EUR 1,562/tonne) CFR (cost & freight) China in late August, from around USD 2,270/tonne CFR China in the early part of the month. However, the lower prices failed to attract buyers who mostly kept to the sidelines.

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