Asian ABS: Under pressure from
both downstream and upstream■ Rising feedstock costs but weakening demand affect
margins■ China has a low import appetite in Asia





Acrylonitrile-butadiene-styrene stood
stable on the week at $1,745-1,775/mt CFR China and $1,795-1,830/mt CFR
Southeast Asia on June 8, facing increasing pressure from surging raw
materials costs but bearish demand. On
the back of strong benzene prices and turnarounds in China, Asian styrene rose
$25-30/mt and $103-120/mt respectively on the day. Although buying indications rose by $30-40/mt over the week
at $1630-$1,650/mt it was still well below the selling indication of $1,700-1,730/mt.
This led to slow trade momentum in the CFR China market. China saw domestic discussions rise from Yuan 200-300/mt to
Yuan 13,600-13,600/mt or $1,620-1,695/mt based on import parity. This was below
the international level and dampened the appetite for...