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.
For the Quarter Ending December 2023
North America
The Acrylonitrile Butadiene Styrene (ABS) market in North America was majorly weak in Q4 of 2023 due to ample supplies and subdued demand within the automotive sector.
According to the National Automobile Dealers Association (NADA) of the USA, November 2023 saw a seasonally adjusted annual rate (SAAR) for new light-vehicle sales at 15.3 million units, marking the second successive month of SAAR declines. The combined inventory of new light vehicles, inclusive of units in stock and transit, started November at 2.15 million, progressively increasing throughout the month. By the end of the month, the total new light-vehicle inventory had surged to 2.33 million units, indicating an 8.3% month-over-month increase and reaching a 20-month peak.
With the expansion of inventory levels in the national automotive industry, downstream demand for ABS experienced a notable decline throughout this quarter. The surplus in supply worsened the bearish conditions in the ABS market. Additionally, external factors like the contraction in manufacturing activities and subdued domestic demand have been instrumental in shaping ABS pricing dynamics since the conclusion of October 2023, and this trend has persisted into the fourth quarter significantly.
Asia
The Acrylonitrile Butadiene Styrene (ABS) market in the APAC region witnessed an overall bearish trend during Q4 of 2023, with moderate to high supply and weak demand fundamentals. The market experienced muted inquiries in the regional market due to a destocking strategy adopted by market players towards the year-end in December 2023. The ABS prices in Japan recorded the maximum change, with a decline of 4.9% during November 2023, backed by weak regional market transactions and high levels of produced stocks. The market demand in Japan remained low during Q4, with a marginal need-based demand in the downstream automotive industry. The latest price of ABS Injection Moulding FOB Tokyo in Japan for Q4 2023 is USD 1266/MT. The plant shutdowns in the region, such as Taita Chemical at Kaohsiung and Formosa Chemicals and Fibre Corp. at Mailio, operating at lower rates, also impacted the market sentiments. Simultaneously, domestic ABS prices in China have experienced a decline, mirroring the downward trend observed in import ABS prices in both markets. The sustained decline has prompted the introduction of competitive offers for Chinese materials in Southeast Asia. Additionally, the upstream crude oil market is undergoing noticeable volatility, and the decreasing prices of feedstock styrene, hitting three-month lows, have further dampened market sentiment. The combination of cost erosion and a persistent downturn in downstream demand has kept sellers under pressure to reduce inventories, leading to reductions in ABS prices.
Europe
The Acrylonitrile Butadiene Styrene (ABS) market in the Europe region experienced a bearish trend in Q4 2023 (October to December) due to multiple factors. Firstly, the slow movement of downstream automotive industry consumption and ample availability of inventories resulted in a dip of 4.2% and 3.6% in the ABS prices in the UK and German markets, respectively. Secondly, the elevated inventory levels resulted in narrow profit margins for ABS producers, prompting sellers to temporarily reduce profit margins and adjust prices amid uncertainty in the downstream market conditions. Thirdly, the destocking sentiments among market players weighed on the price momentum of the product. Germany witnessed the maximum changes in the pricing trend, with a bearish market situation and high to moderate supply levels. The ABS prices in Germany saw a decline of 43% from the previous quarter, with a price percentage comparison of -7% between the first and second half of the quarter. The price percentage comparison of the current quarter to the same quarter of the last year was -45%. The latest price of ABS Compounding Grade FD Hamburg in Germany for Q4 2023 is USD 1619/MT.
For the Quarter Ending September 2023
North America
In the United States, the ABS price trend remained relatively stagnant in the quarter ending September 2023, due to a decline in consumer purchasing sentiment amid increasing inflation and a weak housing market. Additionally, the automotive sector's demand for ABS faced a significant challenge as a UAW (United Auto Workers) strike threatened to reduce monthly demand for ABS from major automobile producers, including Ford, General Motors (GM), and Stellantis, each by 5,000 tonnes based on their first-half volumes in the third quarter of 2023. The UAW strike continued to impact the automotive sector's ABS demand, amidst slowed production of the three major automakers in the middle of the quarter. Hence, the ABS price stability was primarily prompted by the narrowing demand-supply gap, amidst declining downstream demand, and limited inventories. Moreover, overseas ABS inquiries had been consistently decreasing since the end of August 2023, leading to reduced offtakes for ABS in the first half of September. The price stagnancy this week was the result of ample supplies and stability in the feedstock Styrene monomer prices for two consecutive weeks at the termination of the quarter.
APAC
In the latest analysis, ABS prices experienced an overall decline in the quarter ending September 2023, due to the abundant supplies to meet existing orders in both the domestic and regional markets. Furthermore, the adverse impact of a Typhoon in the country had a dual effect. It not only reduced operational rates but also constrained domestic offtakes for ABS products in August 2023. Meanwhile, China's manufacturing industry saw a positive shift in August, with the Purchasing Manager Index (PMI) rising to 49.7%, a 0.4% increase from the previous month. This reflected the continuous improvement in the prosperity level of the manufacturing sector in China. Nevertheless, recent insights reveal that extended economic uncertainty in China and a slowdown in export inquiries have led to a decrease in international market enthusiasm in the third quarter of 2023. As September progressed, downstream businesses completed their pre-holiday stocking, causing a decrease in demand by month-end. Consequently, the current stability in ABS prices was prompted by the stagnating downstream demand and rising production costs, especially with an upward trend in feedstock Styrene and Butadiene prices noted at the termination of September 2023.
Europe
In the European market, ABS prices exhibited stability during the quarter concluding September 2023 amidst heightened market uncertainty concerning downstream demand orders. Market participants have displayed a cautious approach in response to the prevailing market conditions. The ABS price trajectory has been influenced by sluggish production rates since the start of the quarter, amid escalating production costs. Demand conditions remain weak, marked by a pronounced decline in new business activity, leading to a further contraction in procurement operations and a subdued enthusiasm for input procurement. Conclusively, the stability in ABS prices in Germany is governed by the escalation in the costs of upstream materials, such as Styrene and Butadiene, along with a tightening of supply. Concurrently, the global economy has not shown significant signs of a revival in ABS demand, with the domestic European market exhibiting lackluster performance. The persistent demand weakness is a result of multiple factors, notably the holiday season, which traditionally leads to reduced consumer spending and decreased business activity in the regional automotive and housing sectors.
For the Quarter Ending June 2023
North America
The ABS (Acrylonitrile Butadiene Rubber) prices fluctuated within a narrow range in the Quarter ending June 2023 in the US market, governed by the persistently muted demand in the automotive and housing sector of North America and lowered feedstock Styrene costs coupled with ample stock availability across the regional market. The decrease in sales and profit for the manufacturers reflected the challenging global economic environment, along with macroeconomic factors weighed on the commodity performance during the second Quarter of 2023. In the H1 of Q2, the downstream demand from the automotive industry was affected by the inflationary pressures on the operational rates. Meanwhile, the weak housing segment inquiries were primarily attributed to a slowdown in the residential sector in the region due to elevated interest rates by the Fed to limit inflationary pressures on the US market players at the start of the Quarter. These restricstive financial conditions and inflation have paused consumer purchasing enthusiasm and conclusively influenced ABS price discussion in the US market. At the termination of the Quarter, the US Department of Homeland Security (DHS) banned the inflow of imports to China to keep forced labor practices out of the US supply chain and prompted the ABS market momentum in the international market, and market players stabilized the prices towards the end of June 2023.
APAC
According to the most recent data, the prices of ABS experienced a plunging trend during the second Quarter of 2023 in the APAC market. This decline was a cause of concern for market participants due to sluggish demand in the automotive and housing sectors within the country. The ABS market was majorly affected by the lowered upstream material costs in Q2, including Butadiene, Acrylonitrile, and Styrene monomer prices in China. The economic situation in China did not show adequate signs of improvement, which dampened consumer enthusiasm in the domestic market during this time frame. Additionally, sluggish offshore trading activities further impacted the pricing movement of ABS in this Quarter. The volatility in upstream crude oil prices and the availability of lower-priced feedstock, Styrene monomer, contributed to the decline in ABS prices in the H1 of Q2. In the first half of Q2, the downstream processing industry suffered a decline following the Holiday season. As a response to the bearish market, manufacturers chose to reduce their production run rates during the latter half of the Quarter. Furthermore, the export demand slumped, and the rising interest rates prompted the housing sector offtakes across the regional market. Traders have been grappling with an oversupplied market since the Labour Day Holidays in May 2023, which was exacerbated by the drop in crude oil costs and feedstock prices. These factors combined to create a challenging environment for the polymer, ABS market in the APAC region during the second Quarter of 2023.
Europe
In the second Quarter of 2023, ABS prices in Europe experienced a significant drop, mainly due to decreased demand in various downstream industries, such as the automotive and housing sector. This decline was primarily driven by a sharp decrease in housing activity and an abundance of ABS inventories amidst lowered feedstock Styrene costs. Rising interest rates during the Quarter also contributed to reduced consumer spending, further impacting the ABS market. To cope with the challenging financial situation, market players closely monitored market conditions and implemented strategies to manage the declination period. These strategies included reducing production rates, optimizing costs, and ensuring a stable supply chain. Additionally, the decline in feedstock Styrene and Butadiene prices and upstream Crude oil costs also played a role in supporting the overall decrease in ABS prices during this period. The global economic slowdown had lasting effects on the market, including restrained investment, increased debt vulnerabilities, and funding shortages in the regional market. As a result, the demand for ABS in the housing and automotive sector dwindled.
For the Quarter Ending March 2023
North America
The price of ABS in the United States fell in the quarter ending March 2023, owing to abundant stockpiles and slower inquiries in the downstream automotive and other competitive industries. Furthermore, rising interest rates and negative consumer purchasing sentiments weighed on ABS offers in the US market. The ABS firms also suffered competitive cost pressure in the domestic market of the United States, which influenced the commodity's final discussions this quarter. Furthermore, the stability in the feedstock styrene monomer also contributed to the current price trajectory of the commodity by limiting the production cost pressure on the ABS market players. Thus, the price of ABS was assessed at USD 2432/MT FOB Houston (USA) in March 2023.
APAC
In Asia, ABS prices were down with slowness in the downstream momentum in the quarter ending March 2023 due to adequate stock availability and competitive offers in the face of high stock volumes. ABS inquiries were low in both the domestic and international markets, and businesses were concerned about the rising inventories and decreasing output this quarter. However, market sentiments differed at the end of March 2023, with some industry participants citing low-cost Asian products coupled with lower freight rates. Furthermore, despite reducing demand, ABS offshore offers from other Southeast Asian markets retained a dull purchasing attitude in March 2023. This quarter, product import costs in China and Southeast Asia fell by about 1% and 3%, respectively. Besides, the ABS prices were also influenced by the feedstock Styrene monomer fluctuating prices this quarter.
Europe
The German ABS price trend saw a continuous decline in the quarter ending March 2023, with recent price drops at the end of March 2023. Prices fell in Germany as a result of weak demand from the downstream construction sector and the region's decreasing housing market. The rise in interest rates and the cost-of-living crisis put ABS customers under financial strain. High inflation, combined with poor economic growth, limited trading activity to Europe's essential requirements. Furthermore, market participants maintained a negative pricing momentum for the first quarter due to weak demand fundamentals and muted spot activity globally amidst competitive market circumstances and high stock levels.
For the Quarter Ending December 2022
North America
During the fourth quarter of 2022, the price of ABS decreased in North America. The weak demand from the downstream industries led to a reduction in orders from importing nations like Mexico and Canada. The price of ABS was supported by the eased cost pressure from three feedstocks: acrylonitrile, butadiene, and styrene. This is because the price of crude oil was eased due to a weakening demand outlook and better supplies. In the second half of the fourth quarter, the supply chain strengthened, easing overall supply dynamics in the US market. Additionally, cheaper imports from other Asian nations were also contributing to this declining price trend.
APAC
The price of ABS saw declined trend during the final quarter of 2022 in the Asia Pacific region. The three feedstocks saw mixed price trends in the Chinese domestic market. The demand from the downstream construction and automotive sectors was low due to the Zero COVID-19 restriction, and the orders from domestic buyers were reduced and inventories stockpiled in the market. At the same time, India also followed the same trend due to high inventory from the exporting nations, and the traders had significant availability of the product. Due to the year-end, some traders were selling the product at low prices in the domestic market.
Europe
The price trend of ABS saw a descending direction in Europe all through Q4 2022. The price drop was attributed to low demand from downstream industries and cheap imports from Asian nations. Due to Europe's economic downturn and consumers' reluctance to spend on non-essential materials, demand from downstream industries like the construction and automotive sectors was low. The ABS price trend was bolstered by the product's abundant availability and piled-up Asian inventory. In December, as the holidays got closer, buyers cut back on their orders, and the ABS market in the Eurozone showed a negative price trend.
For the Quarter Ending September 2022
North America
During the third Quarter of 2022, the Acrylonitrile Butadiene Styrene prices fell owing to the price decrease in feedstock Styrene in the North American region. Weak cost pressure from upstream Benzene and the crude values remained below 100 USD/barrel supported the downstream derivative industries. The quotations from the manufacturers declined, and the traders were stockpiled due to the high availability of the product in the market. The low demand from importing countries like Mexico and Canada further decreased the price of ABS in the North American region. The cost of ABS hovered around USD 3159/MT on a FOB Houston basis during the quarter ending.
Asia Pacific
In the first two months of the third Quarter of 2022, the Acrylonitrile Butadiene Styrene prices declined in the Asian market due to the feedstock's weak cost pressure. The quotations from feedstock Butadiene were lower in Asia, which affected the Indian market. In China, the decline of the domestic butadiene market slowed down in August. At the end of the month, the quotations of major manufacturers increased, and the market atmosphere warmed up. The main reason was the contradiction between supply and demand. The supply was on the high side, while the downstream demand was relatively low, and the external market was slightly boosted. In September, the price of ABS saw a slightly upward trajectory due to high feedstock Styrene prices in the Asian market. The cost of Acrylonitrile Butadiene Styrene was recorded at USD 1582/MT on a CFR JNPT basis during the quarter ending.
Europe
The price of Acrylonitrile Butadiene Styrene fluctuated in the European region throughout the third Quarter of 2022. The weak cost pressure from the feedstock Styrene (-25%) under influenced by the upstream Benzene market. Due to war-related circumstances, the demand for ABS decreased in the German domestic market. Automotive, construction, and other key driving sectors were under pressure from lower consumer spending in the region. The cost of Acrylonitrile Butadiene Styrene prices settled at USD 3780/MT on an FD Hamburg basis during the quarter ending.
For the Quarter Ending June 2022
North America
The prices of Acrylonitrile Butadiene Styrene (ABS) surged in the North American market during the second quarter of 2022, with cost hovering at USD 3,305/ton ABS injection grade FD US Gulf in the USA with a quarterly escalation of 2.7% as per recorded by Chem Analyst pricing team data. The surge in the product prices from exporting countries like South Korea and Mexico supported the market in an upward direction. Fluctuating costs of upstream feedstocks Acrylonitrile, Butadiene, and Styrene due to the global fluctuations in the petrochemicals market. The ongoing war between Russia and Ukraine caused the freight charges to vary, putting cost pressure on the product.
Asia
Acrylonitrile Butadiene Styrene prices fell in the Asian market during the second quarter of 2022, with prices hovering at INR 188475/ton ABS Bulk High Flow Grade Ex-Pune during June with a quarterly decline of 0.3% in India. The support for the ABS cost side was diminished by the general decline in the market for the upstream three materials. Recent days have seen a rise in tension between Russia and Ukraine, leading to the closure of numerous oil fields and fluctuations in crude oil prices. However, the market diverged significantly due to price transmission to the ABS business chain. The effects of the domestic plague on logistics are still being felt in East China, where businesses and merchants continue to oppose shipments, and downstream consumers frequently keep production on little needs.
Europe
The European market saw an inclination in the prices of Acrylonitrile Butadiene Styrene (ABS) during Q2 of 2022, with costs ranging from USD 3890/ton ABS Compounding Grade FD Immingham with a quarterly escalation of 3.8% in the United Kingdom as per recorded by Chem Analyst pricing team data. May saw a decline in supply across Europe due to several variables. The increase in demand, brought on by both rising consumption and enough supply farther downstream, had a favorable impact on production rates, which were the main drivers of the rise in availability. Trinseo rose the prices of Acrylonitrile Butadiene Styrene in various regions across the European Union.
For the Quarter Ending March 2022
North America
Acrylonitrile Butadiene Styrene (ABS) prices fluctuated throughout the first quarter of 2022 in North America. Initially prices declined in January because of sluggish demand from downstream automotives and then rose in February and March due to rise in the prices of Acrylonitrile, Butadiene and Styrene feedstocks. The decrement observed in ABS prices was 2% in the first quarter of 2022 from the last quarter of 2021. ABS prices were recorded in the US market on FD basis at USD 3050 per tonne by Q1 end.
Asia Pacific
Prices of ABS remained uncertain in the Asian region. In China, values decreased by 6% during Q1 of 2022 amid the low demand from downstream industries. ABS spot Shanghai prices settled at USD 2320 per tonne. However, in the Indian Market, prices turned firm in March because of disruption in the global supply chain amidst the Ukraine – Russia war scenario. However, raw material prices fluctuated in the stable to firm range throughout the quarter in India. ABS Bulk High flow grade prices showcased a decline of 15% in India from the last quarter of 2021.
Europe
Prices of ABS remained firm throughout the first quarter of 2022. The demand from the downstream automotive and other industries remained consistent throughout the period. Disrupted supply chain amidst the conflict in the East European region resulted in inflation in crude oil prices. Also, increasing freight charges and energy values affected the production cost of ABS in Europe. ABS prices witnessed an increase of 5% from the last quarter of 2021 and were accessed at USD 3580 per tonne on FD basis in Germany.
For the Quarter Ending December 2021
North America
Feedstock prices seesawed throughout the quarter which meant prices of downstream ABS also fluctuated during the quarter. Styrene supply was termed as under pressure as the recovery from devastation caused by hurricane Ida lasted till mid Q4. While prices of ABS gained in October 2021, prices dipped in November and then again rebounded in December and were assessed at USD 2948 per MT on free delivered basis. Demand remained stable in Q4 and lost steam towards the end of the year in the wake of winter holiday season.
APAC
In China, performance of upstream Styrene, Acrylonitrile, and Butadiene has been termed as weak in the last quarter stemming from demand stagnation both from domestic market as well as international market. Consequently, ABS pricing has dipped in the last quarter of the year stemming from waning demand and declining feedstocks. Ex-Shanghai prices was assessed at USD 2432 per MT after conclusion of December 2021. Indian market also remains lacklustre as the festive season did boost the demand however the emergence of another covid variant and traditional demand slump meant prices dropped in Q4. Feedstocks imports were also termed as sluggish hence prices dropped from INR 190180 per MT in October to INR 155400 per MT in December for ABS low flow grade on CFR basis.
Europe
European ABS market remained robust throughout the quarter owing to robust demand from downstream industries. Above sentiment has been vindicated by the price trend where in early October prices were assessed at USD 2850 per MT on FOB basis while in the last week of December prices were placed at USD 3015 per MT. Strong pricing of feedstock Styrene throughout the quarter further pressured the overall cost of production and thereby pricing of ABS. Demand remained healthy throughout the quarter as there were little to no demand fluctuations due to winter holiday season. Imports from Asia remained limited caused by high freight charges which meant imported material remained unsustainable and uncompetitive.
For the Quarter Ending September 2021
North America
In the third quarter of 2021, an exponential rise was observed in the prices of Acrylonitrile Butadiene Styrene (ABS) in North America. High demand from the downstream sectors and scarcity of feedstock Acrylonitrile and Styrene fueled the escalating pricing trend of ABS. In August, Ida hurricane impacted the operations of oil and gas refineries along with other manufacturing plants and led to the disruption in the supply chain that further swelled up the prices of Acrylonitrile Butadiene Styrene. Cornerstone had to shut its Acrylonitrile plant due to power outage as a repercussion of Ida hurricane in Louisiana. While INEOS Styrolutions halted operations of its Styrene plant in Texas for maintenance in September end. ABS FD-US Gulf monthly average prices stood at USD 2958/MT in September, witnessing a hike of USD 132/MT in ABS price since July.
Asia
In Q3 2021, Acrylonitrile Butadiene Styrene (ABS) market in the Asian region experienced a proliferative trajectory in prices as the supply of Acrylonitrile and Styrene remained tight because of the power deficit conditions in China. In September, most of the manufacturers in China were duty-bound to cutdown their production activities following the ‘duo cuts’ on energy consumption and carbon emission which consequently exerted burden on the ABS market. Overall regional ABS market remained tensed due to the extreme scarcity of feedstocks because of the plant turnarounds in China and South Korea. Shandong Hai Jiang unexpectedly shut down its Acrylonitrile plant in August due to some technical glitch whereas, Liaoning Petrochemicals and Ningbo LG chem announced maintenance outage in the third quarter. ABS FOB Qingdao- China stood at USD 2817/MT in September observing a hike of 74 USD/MT from the prices observed in July 2021. Indian ABS market remained dampened during Q3 because of the shortfall of raw materials from South Korea and China.
Europe
In Europe, Acrylonitrile Butadiene Styrene (ABS) market showcased mixed sentiments for ABS prices during Q3. The prominent rise in the values of feedstock Acrylonitrile and Styrene and lower production rates in the region contributed to push up the pricing trend. In August end, the declaration of the force majeure at by AnQor in Netherlands, which is one of the largest producers of Acrylonitrile globally, further extended the hike in prices of ABS. In addition, skyrocketing interoceanic freight charges across Asia-Europe and US-Europe trading routes led to the exponential rise in ABS prices in the European market. By quarter end, prices of ABS remained steady after the upliftment of force majeure and resumption in operations of several plants.
For the Quarter Ending June 2021
North America
Acrylonitrile Butadiene Styrene (ABS) market in North America observed a steep rise in prices initially in Q2, backed by the insufficient supply activities in the region. Post winter disruption in February, prices of ABS skyrocketed during the month of April and May, which later started declining as major manufacturers started resuming their plant operations in the country. On the demand side, ABS market exhibited prominent growth in consumption from downstream construction and automotive sector, post successful vaccination drive in the country. Therefore, a steep rise was observed by the end of May, which later declined during June and finally settled at USD 2910/MT in USA.
Asia
Acrylonitrile Butadiene Styrene (ABS) market in Asia demonstrated mixed sentiments, where the demand from some countries improved effectively, while some countries struggled with repercussions of the pandemic or slow economic recovery. In China, Acrylonitrile Butadiene Styrene (ABS) demand showcased firm to stable sentiments, where the construction and automotive sector traced recovery, showing normalcy like pre pandemic levels. However, active restocking and cheaper upstream materials adhered stability in the prices of ABS in the second half of the quarter. Meanwhile in the Indian market, feeble demand and abundant availability of ABS along with raw material Styrene monomer, pushed down the prices in the initial days which later started rising marginally in the month of June. Therefore, the prices of ABS hovered around USD 2734/MT for India and USD 2080/MT for China during the month of June.
Europe
Economic recovery in Europe was the prime cause that bolstered the demand for ABS across the region. Manufacturers revealed that they received many contracts for Acrylonitrile Butadiene Styrene (ABS) where some of them were booked till the end of this year. Heavy demand for ABS was attributed to the market optimism prevailing from successful vaccination drives and ease in lockdown restriction in most of the European countries. Therefore, under firm demand and improving production activities, prices of ABS in Europe underwent a steep flight during this quarter.
For the Quarter Ending March 2021
North America
Winter storms in the US impacted several plant activities during Q1 2021. Several upstream material supplies remained tight such as Acrylonitrile, Styrene etc. ABS supply across the region remained insufficient to satisfy the regional demand. With dented production lines, supply chain remained disrupted with dome expectations of improvement in the forthcoming months.
Asia
During Q1 2021, the Asian market witnessed a steep growth in the overall ABS demand from several downstream sectors. Lunar holidays in China pushed several small-scale ABS units to remain non-operational for some days during February, that halted the domestic supply of ABS. Meanwhile in India, ABS demand from the domestic electronics and home appliance manufactures rose significantly that supported its prices in the Indian market. Throughout the quarter, supply remained tight which prompted ABS prices to rise from USD 2016 per MT in January 2021 to USD 2120.3 per MT (March 2021) in India.
Europe
The European market experienced strong demand support of ABS from the domestic as well as from the overseas. Lower upstream supply in Europe halted the production of ABS across the region, although the demand remand remained strong throughout the quarter. Furthermore, container shortage across Europe-Asia route amid strong export demand from Asia forced the prices to seek upward trend and hence the manufacturers were running their operations on lower capacities Meanwhile, a leading ABS manufacturer of Europe increased its ABS resin prices by approximately USD 476.9 per MT in Europe with effect from 1st March 2021.
For the Quarter Ending September 2020
North America
ABS demand bolstered during Q3 2020 with prices turning firmer starting the second week of August. Increased buying of household appliances and air-conditioning units during the pandemic as many stayed at home quarantine and adopted the work from home culture, strengthened the market sentiments. After a major fallout from the economic slowdown, the demand from the US automotive sector started pushing up towards the end of the quarter, projecting a V-shaped recovery in the sectoral growth. The US August acrylonitrile-butadiene-styrene (ABS) prices faced upward pressure in August amid tightening global supply. The engineered plastic is widely used for making toys and hence players are expecting surge in demand ahead of the Christmas holidays.
Asia
ABS market in Asia is strongly driven by the automotive sector, but the market got a strong support from the manufacturers of appliances, toys and air-conditioners despite a major blow to the automobiles sales in third quarter. Chinese ABS producers reported healthy margins and their operating rates never fell below 85% throughout Q3. The demand is likely to stay robust till the year end as September to December is said to be the peak season for the ABS market, however, tighter supply might continue to affect the procurement cycle.
Europe
The European ABS producers announced a fresh round of price increase in Q3 stating that the demand for the material significantly exceeded the regional supply. Demand across the non-automotive sectors such as electronic appliances, furniture, toys etc. showed signs of recovery earlier than automotive, thereby driving the Q3 results for most of the ABS producers. Bouncing back from the economic disruptions due to COVID-19 pandemic, the appliances demand in Europe grew higher in September, driven by end-consumers investing more into home renovations.
