Asian ABS: Lower by $50-55/mt due to slow demand- Limitless
import inquiry from China- Sources
await US-China Tarif easing newsAsian Acrylonitrile-butadiene-styrene was
assessed down by $50-55/ mt on the week at $1,590-1,620/mt CFR China,
considering muted buying interest and weaker upstream prices. According to market
participants, China's importing needs are still low due to weak domestic and
export demand. This is despite current global inflation. For August arrivals, the CFR China offers were heard at
$1600-1640/mt. A trader stated that the
importing requirement is almost zero now, particularly in a declining market. Due to the recent oil price crash, market participants are
more cautious to reduce the risk of price fluctuations. Sources are also monitoring the US-China talks regarding the possible easing of tariffs. This is considered a positive factor for final
product demand from the US. Upstream,...