Acrylonitrile Butadiene Styrene Prices Quotations Tumble in India

The prices of Acrylonitrile Butadiene Styrene fell in exporting countries like South Korea, Saudi Arabia, and Thailand, which also impacted the importing Indian market sentiments. Acrylonitrile Butadiene Styrene prices thus dropped sharply across the Asian region due to the steady demand pattern in the area. Crude Oil prices tumbled about 7% amid a weak demand outlook globally. Mitsubishi Chemical's Methacrylate (MCM) 180 KPTA MMA plant, along with the upstream SCCO 520 KPTA Acrylonitrile (AN) plant, cut their production rate and is focused on running at 70%.

The prices of Acrylonitrile Butadiene Styrene fell in the Indian market during the second week of July, with prices hovering around INR 179500/ton ABS Bulk High Flow Grade Ex-Pune and a monthly declination of 1.4%. In Taiwan, according to sources, Formosa Petrochemical Corp's (FPC) 98 KPTA MMA plant in Mailiao dropped its utilization rate coordinated with the upstream 280 KPTA Acrylonitrile (AN) plant due to declining market demand.

On the polymethylmethacrylate (PMMA) side, market demand for thermoplastics such as PC (polycarbonate) / ABS (Acrylonitrile Butadiene Styrene) and PMMA declined. In China, the price of the upstream MMA-C3 process, Acrylonitrile (AN), is so low that it is difficult to justify the production of AN and, coupled with the downstream MMA manufacturers using HCN-Offer, the production rate dropped to 70%. Raw material costs are 80% higher.

This week's HIPS market is driven by volatile upstream feedstock Styrene prices and sluggish coordination. Commodity markets recovered in the first ten days, and cost support supported reasonable HIPS prices. Market research motivation has improved to some extent under the idea of buying rather than buying, but local health events are still severe. Therefore, shipping from companies is affected. HIPS prices began to fall in the middle of the year, and negotiations were concessed. For the past ten days, as holidays approach, downstream factories continue to maintain the need for purchases, the trading environment weakens, and the supply of cargo beds follows the market.

Because of security incidents, transportation is not smooth, market supply is sufficient, spot trading remains weak, and the styrene market is soft and low. As per Chem Analyst, the ABS market will likely be stable in the coming weeks with upstream feedstock Benzene and Styrene surging prices.