For the Quarter Ending December 2024
North America
In Q4 2024, the ABS market in North America experienced a downward price trend influenced by softened manufacturing costs, supply chain disruptions, and fluctuating demand dynamics. October saw a 3.2% price decline, driven by lower crude oil and feedstock styrene costs, alongside eased production expenses. Supply-side challenges, including potential East Coast and Gulf Coast port disruptions and delays, added pressure on pricing.
By November, prices dipped significantly, supported by the stable automotive demand, ample supplies, and lowered feedstock Styrene costs. Moreover, holiday-related disruptions and delayed imports limited supply-chain flexibility. In December, further geopolitical tensions and port congestion exacerbated logistical challenges, while extended winter holidays dampened end-year purchases. Despite these factors, automotive demand remained stable, with light vehicle sales increasing 2.4% year-on-year in December.
Overall, while lower feedstock and production costs softened ABS prices early in the quarter, stable automotive sector demand and tighter supply conditions prevented further declines. This balance maintained moderate price stability heading into early 2025.
APAC
The Acrylonitrile Butadiene Styrene (ABS) market in Asia exhibited a marginally decreasing price trend in Q4 2024 due to persistent supply-demand imbalances and cost-side fluctuations. During October, weak demand from downstream industries, including home appliances, and high inventory levels pressured spot prices. While the "Golden September and Silver October" period provided some early support, it failed to sustain demand momentum, leading to a price decline by mid-November. Supply levels remained ample throughout the quarter, with key producers like Tianjin Dagu and Jilin Petrochemical operating at elevated rates despite maintenance activities. Inventory levels, although reduced slightly in December, continued to exert downward pressure on prices. On the demand side, government subsidies and shopping festivals in November and December boosted short-term sales and inventory digestion, particularly in the home appliance sector. Export-oriented procurement also improved market circulation. However, concerns over overdrawn future consumption and subdued terminal stocking activity constrained a significant recovery in prices. By the end of December, steady production rates and sufficient stock availability maintained the market balance, while declining styrene costs offered moderate relief. Overall, ABS prices in Asia remained stable but leaned slightly downward amid ongoing supply surpluses and modest demand recovery.
Europe
The European ABS market witnessed a marginally decreasing price trend in Q4 2024, influenced by oversupply, subdued demand in key sectors, and fluctuations in upstream costs. Early in the quarter, the price decline in Germany was driven by lower styrene prices. Logistical challenges, including port congestion and disrupted shipping routes, further weighed on the market. Despite stable domestic production, the automotive sector, the primary consumer of ABS, faced significant headwinds. Volkswagen's 60% profit slump and plant closures, alongside challenges at Stellantis, underscored the sector's struggles, as a 6% year-on-year rise in October vehicle registrations was offset by weak EV sales and declining private car registrations. As the quarter progressed, demand for ABS remained steady, supported by government measures and stable requirements from the appliance and electronics sectors. Freight rate increases from Asia in December caused minimal disruption to local supply chains, while anti-dumping duties on imports from South Korea and Taiwan hinted at potential future support for European producers. By December, balanced supply-demand dynamics and steady feedstock costs stabilized ABS prices, but the sector's recovery remains contingent on transformative changes in the automotive industry and broader economic revitalization in Europe.
South America
In Q4 2024, ABS prices in South America, particularly in Brazil, exhibited a marginally declining trend due to a combination of weak demand and abundant supply. Prices dropped, as subdued import costs from Asia and lower upstream crude oil and Styrene prices influenced the market. Brent crude oil prices fell to USD 75.29 per barrel, driving down production costs. Oversupply persisted due to increased imports from South Korea and China, where softened regional demand and competitive pricing strategies maintained high export volumes. On the demand side, Brazil’s automotive sector demonstrated mixed performance. Domestic vehicle sales rose by 12.1% in October, with production climbing 8.3% month-over-month. However, rising imports of auto components and a cautious economic outlook, including inflation reaching 4.76% year-on-year in October, limited broader ABS demand. The impact of a customs strike disrupting major ports like Santos was mitigated by efficient domestic production, ensuring market stability despite logistical challenges. Overall, the South American ABS market faced downward price pressure in Q4 2024, driven by oversupply and economic uncertainties, with moderate support from the recovering automotive sector.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, the Acrylonitrile Butadiene Styrene (ABS) market in the North American region experienced a stable pricing environment, as the demand and supply remained balanced throughout this quarter.
The US ABS market was influenced by factors such as balanced demand and supply dynamics, steady production rates, and stable feedstock prices. The USA exhibited the most significant price changes, with fluctuations driven by reduced production rates, higher export selling costs, and the impact of natural disasters like Hurricane Francine.
Moreover, compared to the previous quarter in 2024, prices remained unchanged, indicating a period of price stability. The price comparison between the first and second half of the quarter also showed no significant changes, further highlighting the stable pricing trend. As Q3 2024 came to a close, the price of ABS Natural Grade in the USA stood at USD 1883/MT, DEL Texas in the last week of the quarter, underscoring the continued stability in the market despite various external factors influencing pricing.
APAC
In the quarter ending September 2024, the Acrylonitrile Butadiene Styrene (ABS) market in the APAC region experienced a period of marginal decline in prices. This trend was primarily influenced by several significant factors, including weak demand in key sectors such as automotive and home appliances, an adequate supply of ABS in the market, and paused trading activity. From the ABS demand perspective, As we enter August 2024, there has been no improvement in the export demand for ABS in the APAC region. Some home appliance manufacturers are continuing to display need-based demand scenarios in the domestic market, and downstream factories are operating at low capacities, focusing mainly on necessities and showing weak stocking activity. While some traders are attempting to sell at lower prices amid heightened competition in the regional market, overall market momentum remains sluggish in the ABS industry. The overall supply chain disruptions, especially due to heavy rains, further tightened the ABS supplies for the time being. Specifically focusing on Japan, the market witnessed the most substantial price changes during the quarter. There was a slight uptick of 1.6% from the previous quarter in 2024. The price comparison between the first and second half of the quarter showed a decrease of 1%. The quarter-ending price for ABS Injection Moulding FOB Tokyo in Japan was recorded at USD 1450/MT in the last week of September 2024, reflecting the prevailing negative pricing environment in the region.
Europe
In the third quarter of 2024, the European Acrylonitrile Butadiene Styrene (ABS) market witnessed a stable trend in prices, driven by various factors. The quarter began with a surge in production input costs, particularly raw materials and energy, prompting buyers in the Eurozone to seek price concessions. Additionally, fluctuating upstream crude oil prices added to the market uncertainty, while surging container shipping costs from Asia further complicated the pricing landscape. Despite seasonal demand fluctuations and economic uncertainties, market participants closely monitored potential price increases throughout the quarter. In Germany, the market experienced the most significant price changes, reflecting overall trends in the region. The quarter exhibited a 1% increase from the previous quarter. The price comparison between the first and second half of the quarter showed a 1.1% increase. Ultimately, the quarter-ending price for ABS Compounding Grade FD Hamburg in Germany stood at USD 2115/MT in the last week of September 2024 and signaled a slow upward trajectory in the pricing environment.
South America
In the quarter ending September 2024, the Acrylonitrile Butadiene Styrene (ABS) market in South America experienced a significant downward trend in prices, heavily influenced by various factors. One key factor contributing to the price decline was the persistent oversupply of ABS in the market, leading to increased competition and price pressures. Additionally, weakening demand from downstream industries, such as automotive and home appliances, further exacerbated the pricing challenges faced by ABS producers in the region. The ongoing global economic uncertainties and trade tensions also played a role in dampening ABS prices, as market participants navigated through volatile conditions. Brazil, in particular, witnessed the most substantial price changes within the region during Q3 2024. The ABS pricing landscape in Brazil reflected a consistent negative trend. Despite a slight uptick of 2% from the previous quarter in 2024, the overall price comparison between the first and second half of the quarter showed a 2.2% decrease. The quarter-ending price for ABS High Injection Moulding CFR Santos in Brazil stood at USD 1720/MT in the last week of September 2024, marking a continuation of the prevailing downward sentiment in the pricing environment.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, the Acrylonitrile Butadiene Styrene (ABS) market in North America exhibited notable stability, particularly in the latter half of the quarter, driven by several significant factors that shaped its pricing landscape. During this period, demand and supply chains were balanced, playing a crucial role in maintaining price stability.
The automotive and home appliance industries, key downstream sectors, showed moderate demand, contributing to the equilibrium in ABS pricing. Expected seasonal fluctuations, such as the Atlantic hurricane season, led downstream market participants to adopt cautious procurement strategies, ensuring their stockpiles were sufficiently padded against potential disruptions. Additionally, the stable trend in feedstock Styrene prices provided further protection against significant price volatility in the ABS market.
In the USA, which saw the most pronounced price activities during this period, ABS prices remained fundamentally stable. Prices remained consistent between the first and second halves of the quarter, with only a 0.2% change, underscoring a steady pricing environment. The quarter concluded with ABS Natural Grade priced at USD 1881/MT, DEL Texas. This reflected a stable sentiment in the ABS market, indicating neither positive nor negative volatility but rather an equilibrium maintained by balanced supply-demand dynamics and prudent inventory management.
APAC
In Q2 2024, the Acrylonitrile Butadiene Styrene (ABS) market in the APAC region has experienced significant price increases, influenced by several critical factors. The most notable contributors to rising prices have been elevated production costs, driven by soaring crude oil prices and higher feedstock Styrene costs. Additionally, logistical challenges such as limited container availability and increased freight rates have compounded supply constraints, leading to tighter market conditions. A resurgence in regional demand, particularly from the automotive and home appliance sectors, has further pressured prices upward. In Japan, the ABS market has seen the most pronounced price changes. The overall trend for the quarter has been bullish, with prices demonstrating a clear upward trajectory. This increase can be attributed to a combination of steady demand, especially from the automotive industry, and constrained supplies due to higher input costs and logistical bottlenecks. Seasonality also played a role, with increased purchasing activities observed during the summer months. The first half of the quarter witnessed a 2.5% price rise compared to the latter half, indicating a consistent upward trend throughout the period. The quarter ended with ABS Injection Moulding prices at USD 1478/MT FOB Tokyo, highlighting a distinctly positive pricing environment driven by robust demand and persistent supply challenges.
Europe
In Q2 2024, the Acrylonitrile Butadiene Styrene (ABS) market in Europe exhibited a persistent yet moderate upward trend, largely influenced by a combination of supply constraints, heightened production costs, and fluctuating feedstock prices. The prevailing disruptions in supply chains, coupled with strategic production cutbacks by ABS manufacturers, have exacerbated the scarcity of the material. Additionally, increased operational expenses due to rising feedstock Styrene prices and stable demand from the home appliance sector have collectively driven the ABS pricing environment upward. Focusing on Germany, the market has experienced the most pronounced price changes within the region. Examining the entirety of Q2 2024, the ABS market witnessed a subtle price rise of 0.7% between the first and second half of the quarter, indicative of a gradually firming market. The seasonality factor played a crucial role, with increased demand from the home appliance sector, consistent with typical seasonal cycles. This incremental yet consistent rise is reflective of a balanced market condition, where slight demand improvements are met with constrained supply, fostering a stable to positive pricing environment. Concluding Q2 2024, the price of ABS Compounding Grade FD Hamburg stands at USD 2115/MT, marking a steady culmination of the quarter’s upward trend and affirming the positive pricing momentum despite underlying volatility.
South America
In Q2 2024, the Acrylonitrile Butadiene Styrene (ABS) pricing in the South American region witnessed a significant uptrend, driven by a confluence of factors. The quarter marked a notable increase in ABS market prices, primarily influenced by tightened supplies and robust downstream demand. The supply-side constraints stemmed from reduced production rates in key exporting nations, leading to heightened import costs. This, coupled with escalating freight charges and limited stock availability, propelled ABS prices upwards. In Brazil, which experienced the most substantial price fluctuations, the quarter showcased a clear correlation between supply shortages and price hikes. Notably, the quarter's pricing environment reflected a positive sentiment, with ABS prices, culminating in the latest quarter-ending price of USD 1779/MT for ABS High Injection Moulding CFR Santos in Brazil. The price comparison between the first and second half of the quarter further emphasized the consistent upward trajectory in ABS pricing, highlighting a stable and optimistic market outlook. The downstream automotive industry production growth momentum was disrupted in May due to the flooding in Rio Grande do Sul. Factories in that state and other regions slowed or halted operations, highlighting the strategic importance of several suppliers in Rio Grande do Sul. However, the daily average of sales and employment levels remains encouraging for the sector.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the ABS market in North America continued to demonstrate an upward trend. There were no reported plant shutdowns, and the demand in downstream industries remained unchanged.
The market experienced some fluctuations, particularly in the USA as the unfavourable weather conditions, including fog and wind, disrupted terminal operations, leading to shortages and global production delays. As a result, ABS prices consistently increased throughout the first quarter of 2024. This upward trend has continued into the latter part of the quarter, fuelled by a consistent rise in feedstock Styrene prices. To address margin challenges, numerous US ABS suppliers have suggested raising prices to align with the surge in monomer costs.
Moreover, the USA market witnessed an upward trend in ABS prices due to increased demand in the home appliance sector and the seasonal elevation in procurement sentiments. Additionally, rising costs, producers' margin recovery goals, and inadequate supplies are expected to contribute to the bullish trend in the future. At the end of Q1 of 2024, the price of ABS Natural Grade DEL Texas in the USA was reported at USD 1796/MT.
APAC
In the first quarter of 2024, there was a notable surge in the APAC region's Acrylonitrile Butadiene Styrene (ABS) market, characterized by a tight supply-demand balance and surging prices. Several key factors contributed to this situation, including limited stock availability, high input costs, and plant turnarounds. Japan, in particular, experienced significant changes in ABS prices, reflecting a bullish market and moderate demand. By the end of the quarter, ABS injection moulding FOB Tokyo in Japan had reached USD 1370/MT, marking a 6% increase from the first half. Plant shutdowns had played a pivotal role in this market dynamic, leading to reduced inventories and production rates. Various disruptions, including force majeure situations and lower run rates, had further exacerbated the tight supply-demand balance and subsequent price hikes. For instance, in March 2024, PetroChina Jilin Petrochemical Company underwent a 21-day maintenance turnaround in Guangdong Province, affecting the market. Additionally, the price movement had been supported by increased upstream material costs, contributing to overall cost support. Consequently, the APAC ABS market remained bullish throughout the first quarter of 2024, with the potential for further short-term price increases due to heightened demand and stabilized upstream material performance.
Europe
During the first quarter of 2024, the ABS market experienced an increase in Europe in the face of various challenges that impacted the supply and availability of ABS. These challenges included supply chain shortages, logistical issues, and uncertainties in the market. The rising input costs and a shortage of pre-procured stocks also contributed to the disruption in ABS prices throughout the quarter. During the first quarter of 2024, the German ABS market experienced moderate demand and limited supplier availability, prompting a push for price increases. This trend had been consistent, driven by rising feedstock Styrene and Butadiene prices. Upstream oil markets had faced geopolitical tensions, including infrastructure attacks in Russia and a Houthi strike in the Red Sea, leading to concerns about global tanker traffic disruptions and subsequent crude oil price increases. In February, ABS prices had stabilized due to constrained stock availability and rising input costs, despite insufficient downstream procurement and elevated crude oil values. The regional ABS market had begun the year steadily, with prices unchanged amidst supply concerns. Market participants had anticipated significant price hikes as they monitored the situation. Global supply chains had faced uncertainty due to the conflict in the Red Sea, potentially affecting imports into the European ABS market, which relied on this route. Thus, the ABS trend in the first quarter remained consistently northward in the Eurozone.
South America
In the quarter ending March 2024, Brazilian ABS prices continued to rise due to increased costs of imports from South Korea and Taiwan, driven by higher feedstock Styrene prices and limited stock availability in exporter markets. Despite challenges in securing international orders, there was some improvement in demand from the downstream home appliance industry. However, external sales had declined, albeit at a slower rate than in February. ABS supply at the end of the quarter had been affected by reduced production rates in South Korea and Taiwan, with major participants undergoing maintenance turnarounds, leading to further limitations in the Brazilian market. Additionally, freight rates from Asia to Brazil had decreased significantly due to delays in container returns caused by circumstances in the Red Sea. Moreover, upstream cost pressures had increased as feedstock Styrene prices rose, prompting exporters to pass the burden onto regional buyers. Demand from the downstream home appliance and automotive industries had been influenced by a moderate outlook and weak economic conditions. Vehicle registrations in the first quarter of 2024 had shown a notable increase compared to the previous year, although March had seen a decline due to fewer working days. Overall, the ABS industry in the first quarter of 2024 experienced balanced demand amidst various challenges, including supply chain disruptions and economic uncertainties. Despite the price increases and supply constraints, there were signs of stabilization in demand, particularly in the domestic market, indicating resilience in the face of market fluctuations.
