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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = INR/Tonnes]
For the Quarter Ending September 2023
North America
The price trend of Acrylic Acid in Q3 of 2023 was dropped in the North American region. However, in Mexico, the first half of the third quarter experienced a significant drop and reached USD 1420/MT (CFR-Manzanillo) as the continuous influx of acrylic acid from the US market to the Mexican region has resulted in sufficient inventories among the enterprises of the region leading to oversupply situation of the product and freight charges for shipments originating from Mexico destined for several East Asian destinations have decreased, resulting in a negative impact on the regional supply chain market. Due to unfavorable conditions in the downstream adhesives and rubber industry, the Mexican market values of certain products have suffered a noticeable decline. Whereas in the second half of the third quarter, the price trend of the product elevated as the price trend experienced an increase in the demand from the downstream paint and coating enterprise, resulting in the increased consumption of the inventories in storage units due to which producers found themselves in the tight spots as the production rate of the product was increased. Furthermore, a surge in trading activities was observed, leading to an increase in the price trend of the commodity.
APAC
The market price of Acrylic Acid declined in the Asian market during the third quarter of 2023. In Japan, in the first half of the third quarter, the product experienced a significant dip in the price trend and reached USD 979/MT (FOB-Tokyo) as adjustments to the cost of raw material propylene had little effect on expenses, inventory levels decreased due to steady demand from the paint and coating sector. Accessible supplies of feedstock propylene through traders and merchants contributed to the sluggish price trend of the product—furthermore, a decrease in product saturation and a decline in consumption rates. However, in the second half of the third quarter, an elevation in the price trend of the commodity was observed as a surge in demand for the product from the downstream paints and coating market led to the increased consumption of the commodity from the existing inventories in the storage unit which further led to the requirement of the fresh stock. Furthermore, the prices of the upstream propylene market were also observed to be increasing, increasing production costs and adding up to the price of the commodity.
Europe
During the 3rd quarter of 2023, the price trend of Acrylic Acid in the European market experienced a significant dip. Furthermore, in France, in the first half of the third quarter, the prices of the product were observed to decline and reached USD 1264/MT (FD-Le Havre). However, the supply of acrylic acid was more than sufficient. The existing inventories of the commodity were there in an adequate amount. However, the price trend of upstream crude oil enterprise and feedstock was increased due to the supply cut from Saudi Arabia and Russia. Demand for the product was down from the downstream market, leading to the restrained running of the manufacturing unit. Due to the lackluster demand, the existing inventories are sufficient in the storage unit, ultimately leading to a drop in the price trend of the commodity. In the second half of the third quarter, the surge in the price trend of the commodity was observed as the demand for the product was high from the downstream paint and coating enterprise, due to which the consumption of the inventories was enhanced and the requirement to restock the inventories were increased.
South America
The prices of Acrylic Acid in Q3 of 2023 moved downward in the South American region. In Brazil, the price trend was declining in the first half of the third quarter and reached USD 1430/MT (CFR-Santos) as the supply of acrylic acid was strong. The prices of the upstream crude oil market and its feedstock- propylene- increased. Furthermore, the existing inventories of the product were present in a sufficient amount. The demand for the commodity from the downstream market was low, resulting in the cautious running of manufacturing units. Furthermore, the inventories were adequate, but due to less demand, the product price trend declined. However, in the second half, the commodity prices elevated as the demand for the product from the downstream paint and coating enterprise was high, which increased the consumption of the existing inventories, further resulting in the requirement of restocking the commodity. Increased consumption of inventories led to increased product trading among the manufacturing units, allowing suppliers to increase their sales and profit margins.
For the Quarter Ending June 2023
North America
The market price of Acrylic Acid plummeted in the USA region to USD 1485/ton FD Texas impacting the production cost of Acrylic Acid as per traders' quotations. As the prices of Propylene, a crucial feedstock, continue to decline and market inquiries decrease, the pricing dynamics of Acrylic Acid have shifted towards a downward trajectory. The prevailing economic downturn, coupled with apprehensions surrounding an impending recession, has further exacerbated the reduction in demand from the market. Investors harbor a pessimistic outlook regarding the American Logistics industry, as they foresee long-term growth rates falling below historical levels. This sentiment is reflected in the industry's current price-to-earnings (PE) ratio of 15.2x, which is lower than its three-year average PE ratio of 21.2x. Moreover, the industry's present price-to-sales (PS) ratio of 1.0x is lower than its three-year average PS ratio of 1.2x. Consequently, these indicators suggest a less favorable market perception and potential challenges ahead for the logistics sector, and the inventory level is elevated due to lower consumption from the downstream paints and coatings market.
APAC
During the second quarter of 2023, the prices of Acrylic Acid plummeted in the Asian market to USD 972/ton FOB Qingdao. A downturn in demand from Mainland China continues to affect the market, whereby purchase orders have reduced consistently for eleven months, resulting in weaker operating conditions. Buyers reacted promptly by tightening purse strings which influenced employment rate improvement, second only to January 2022 figures. With regards to vendors, supply chain partnerships saw an adjustment in terms of performance deliveries which witnessed their best result since early 2016. Prices also altered, with manufacturers experiencing minimal inflation for input costs, the softest since February 2021, and similar results were noticed when measuring output price inflation that stood lowest in twenty-one months. Optimism among decision-makers rose due to favorable signs pointing towards economic revival, the highest since late October 2021, and the inventory level was seen to be elevated in the Asian market due to lower consumption from the marketplace, as per reported.
Europe
The price of Acrylic Acid plunged in the European market during the second quarter of 2023, at USD 1361/ton Contract FD Hamburg. The contraction in output was the fastest in eight months, and new orders declined at the quickest rate since October of the previous year, due in part to customer hesitancy and destocking. Additionally, the rate of job creation was the weakest since March 2021. On the price front, input costs fell the most since July 2009, and output prices declined for the first time since September 2020, reflecting increasing competitive pressures. Lastly, expectations regarding output prospects for the coming year reached their lowest level since last November amid concerns about sticky inflation, tightening financial conditions, customer uncertainty, and geopolitical tensions. The export of Acrylic Acid to Belgium, Spain, Italy, France, and the Netherlands was based only on demand, and the supply chain was moderate enough to meet the downstream requirements alone, keeping the inventory levels intact with the traders in the regional market. The PMI plunged to 40.6, but the CPI seemed to elevate to 116.8 points which impacted the market sentiments.
MEA
The prices of Acrylic Acid moved in a downward curve in the Saudi Arabian market at USD 1379/ton FOB Jeddah during the second quarter of 2023, as per market trade data. The market price of Acrylic Acid is elevated in the Saudi Arabian region, impacted by the rising production rate of manufacturing the petrochemical derivative. The PMI of Saudi Arabia declined to 58.5 in May, although the demand from the downstream paints and coatings market impacted the market sentiments of the region during May. As per recent reports, the region is experiencing the impact of supply chain disruptions, leading to a notable escalation in the prices of Acrylic Acid. This situation has resulted in the region facing increasingly significant risks related to both paints and coatings insecurity and the accumulation of debt in the sector. The report highlights the mounting challenges posed by the disruption in supply chains and its subsequent consequences, underscoring the region's vulnerability to product shortages with lowering inventories during May.
South America
New orders fell for a ninth month, underscoring low domestic and foreign demand as surveyors highlighted difficult market conditions. Consequently, production continued to shrink, dragged down by a sharp decline in the production of intermediate goods. Meanwhile, factories continued to shed jobs in the period, citing spare capacity in the production stream. Still, eased supply constraints and lower commodity prices coincided with poor demand conditions, driving a considerable decrease in output charges. Looking forward, firms signaled some optimism toward growth prospects despite the tough current conditions at USD 1545/ton CFR Santos. Investors are pessimistic about the Brazilian Oil and Gas industry, indicating that they anticipate long-term growth rates will be lower than they have historically. The industry is trading at a PE (Price to Earning Ratio) ratio of 2.9x, which is lower than its 3-year average PE of 5.6x. This means fewer sales are generated by these companies overall, and subsequently, their profits are decreasing too, as per market trade data.
For the Quarter Ending March 2023
North America
The prices of Acrylic Acid moved in a downward see-saw direction in the USA market, with costs ranging at USD 1509/ton FD Texas. The demand for the paints and coatings industry has been falling, causing rising inventories in the regional market due to the decline in the upstream (Propylene) market value has hampered the prices in the domestic and regional markets. The supply of Acrylic Acid was higher than the already present stocks in the market during the period in the domestic market with the traders and the suppliers. Over the past quarter, the market value of Acrylic Acid fell, driven by a pullback from United Parcel Services of 2.7% with lowering inventories with the traders and the merchants. The supply chain situation of Acrylic Acid is moderate, as per quoted by the traders.
Asia
The market value of Acrylic Acid was depleted in the Asian market during the first and last month of Q1,2023 and escalated to a level of 13% in the middle of the quarter. The production capacity of Acrylic Acid increased with a decrease in demand from industries that use Acrylic Acid for manufacturing their downstream products. Increased competition with many producers vying for market share led to lower prices as producers tend to sell their products at cheap rates. A slight slowdown in the economic conditions of Asian countries led to a decrease in demand for Acrylic Acid, which led to lower prices of the product.
Europe
The prices of Acrylic Acid depleted in the European market, with costs ranging at USD 1787/ton FD Antwerp during January in the Belgium market. Trade tensions between Europe and Asian countries which is trying to reduce and cope with the imbalances with China and strengthening commerce leading to lower prices of the product. Overall, the prices of Acrylic Acid faced a downward trend due to oversupply from East Asian countries, impacting the market sentiments. This downward pressure due to lower consumption from the downstream sector impacted the inventory rates of the product in the German regional market with the traders and the suppliers.
For the Quarter Ending December 2022
North America
During Q4 of 2022, the prices of Acrylic Acid declined in the North American market; thus, no significant fluctuation had been observed for the product across the US market while posing further low-price volatility for forthcoming months in the quarter. The prices of Acrylic Acid were observed to be hovering at USD 1523/ton FD Texas in December within the USA. The supply of Acrylic Acid was higher than the already current stocks in the market during the period in the domestic market with the traders and the suppliers. As reported, the inquiries from downstream Acrylates in the USA market decreased with lower intakes and production rates.
Asia
In the Asian market, the Acrylic Acid market was observed to decline sharply during the fourth quarter of 2022, with costs ranging from USD 1217/ton FOB Qingdao in China during October 2022, as sourced by the ChemAnalyst Research team. The market value of Propylene as a raw material decreased, and some units were overhauled in China. Downstream procurement, however, was solely based on demand, and the market trading atmosphere was weak by the last month of the final quarter. Additionally, Indian inquiries remained lower than expected, and Chinese traders heard about international players offering discounts on their cargo. Market trading was light, dragging down the Acrylic Acid market, and traders were cautious.
Europe
The prices of Acrylic Acid plummeted in the European regional market, with costs hovering at USD 1962/ton Contract FD Hamburg during October in Germany as per quoted by the traders. The plastics, coatings, adhesives and paints industries remained under pressure, and the prices were underwhelmed by the end of the fourth quarter of 2022. The initiatives ran at a typical rate with a high supply and adequate stocks. Freight charges in the European region fell by 2%, affecting the market sentiments and relieving costs pressure from the prices of the petrochemicals like Acrylates. In addition, as per the trusted market source, demand from Acrylates declined due to cheaper imports from other European countries, speculating on the indirect route from the Russian market.
For the Quarter Ending September 2022
North America
In Q3,2022 the prices of Acrylic Acid declined in the North American market, with prices ranging at USD 1685/tonne FD Texas in the USA during September. Domestic traders offered price cuts at the beginning of the quarter. Downstream Acrylate manufacturers witnessed low demand from the paints and consumer coatings industry. Stagflation concerns have also been a significant problem for domestic players as the input costs have not declined. Due to the weakening market sentiments, almost muted transactions were seen in the regional market. The demand and supply gap was wide, thus creating the overall difference between the traders and the buyers in the upper front.
Asia
The prices of Acrylic Acid fell in the Asian market during the third quarter of 2022, with prices ranging at USD 1284/ton FOB Qingdao in China during August, as recorded by ChemAnalyst pricing team data. The regional logistical enterprises improved the overall supply chain, which eased the supply of Acrylic Acid in the market. Meanwhile, the demand from the downstream paints and coatings industry declined, putting downward pressure on the product's prices in the regional market. In addition, the Chinese market witnessed a steep freight charge decline on the West Coast of the USA after the country's post-pandemic uncertainties rose. At the same time, demand from the international market weakened, causing a stockpiling of the product in the Chinese domestic market.
Europe
During the third quarter of 2022, the prices of Acrylic Acid were falling in the European region, with prices ranging at USD 3021/ton FD Hamburg during July. The threat of recession grew over Europe during the third quarter of 2022, which caused traders to become more conservative about the pricing dynamics of feedstock Propylene. Demand fundamentals from the downstream paints and coatings industry have declined across the regional market, which caused the prices to following a downward trend. Although, the supply dynamics were sufficiently optimistic compared to the declining demand. In addition, the feedstock Propylene price decline further supported the downward trajectory of Acrylic Acid in the German market.
For the Quarter Ending June 2022
North America
The Acrylic Acid market witnessed stable market sentiments across the region. While regional demand was steady throughout the second quarter of 2022, firm domestic demand for the product further supported the market dynamics. However, rising inflationary pressure in the US region has compelled producers of various commodities to raise the price of their materials. Nevertheless, Acrylic Acid continued to stay anchored. In addition, despite the rising cost of natural gas in the region, prices remained constant as the material supply continued to hover over the demand. Conclusively, Acrylic Acid prices maintained overall firmness throughout the quarter, which later started projecting dullness due to the looming threat of stagnation in the country.
Asia
Asia Showcased a mixed market sentiment during this quarter due to fluctuating demand dynamics amidst stable supply from manufacturers. As per the insights, ample supplies from Saudi Arabia supported this downtrend in the regional market during the first two months. Furthermore, sudden escalation in pandemic cases in China has also influenced the global market dynamics, while its domestic demand was hampered and inventories stockpiled. Later, by the end of the quarter, prices took an uptrend and showcased an overall buoyancy in India and China. However, this uptrend was anticipated to remain short-term, as slowed economic activities projected a dull market dynamic.
Europe
Acrylic acid prices in Germany kept fluctuating during this quarter because of oscillating demand dynamics amidst rising production costs in the regional market. The Russia-Ukraine war remained the center of all the price movements, which was the major driving factor for price deviations. German Acrylic Acid price rose during April due to high input costs, which later declined in May owing to wavering demand fundamentals from the domestic market. In addition, by the end of the quarter, prices rose again and showcased different market fundamentals, as the market was stepping towards a stagnation condition, but the prices of raw materials were rising parallelly.
For the Quarter Ending March 2022
North America
Taking pressure from global crude oil value, Acrylic Acid price climbed up across US market during Q 1 2022. Major players heard battling with rising inflationary pressure due to consistent escalation in upstream value. Sudden escalation in Ukraine-Russia conflict during last week of February, shot up the global crude oil value, that led to a steep rise in raw material prices across global market. Meanwhile, global economic recovery and seasonal demand bolstered the overall uptrend in price of Acrylic Acid in USA during Q1 2022. Demand fundamentals for the product from downstream Acrylate market also maintained overall stability, while rising raw material cost pushed up prices of these downstream commodities across regional market. As per ChemAnalyst assessment, Acrylic Acid price hovered around USD 2180/MT during February.
Asia
Post witnessing consistent decline till the mid of December, Acrylic acid prices has again started rising on the back of improved demand from the domestic market. While traders were negotiation on their existing cargoes during previous month, now they are revising their offers to improve profit margin. Furthermore, production cuts and rising production cost also remained a major factor behind global hike in prices of several commodities including Acrylic Acid. Meanwhile, Chinese market heard recovering from steep decline in prices due to wavering demand fundamentals during Q4 2021. Furthermore, by the end of Q1 2022, rising pandemic cases in China, raised concern across regional market. As per ChemAnalyst assessment, prices of Acrylic acid were USD 2860/MT and USD 2370/MT in India and China respectively during February 2022.
Europe
European market heard battling with rising another regional disturbance, i.e., soaring natural gas prices in the region. Being highly dependent upon Russia for Natural gas, escalated conflict between Russia and Ukraine and imposed waves of sanctions on the country, resulted into steep rise in prices of natural in major countries of Europe like Germany. Major Acrylate manufacturers like Röhm GmbH announced price revisions on their acrylates due to rising raw material prices backed by soaring natural gas value. Meanwhile, government pledged to reduce dependency on Russia for natural gas in coming years.
For the Quarter Ending December 2021
North America
The effect of production disturbance caused by winter storm during February, can be observed during this period too in US market. However, substantial rise in demand was observed throughout the 4th quarter of 2021, where key downstream users heard witnessing difficulties during procurement. However, major manufacturers radically recommenced their production activities again after prolong disruption. However, another major problem was arrived in front of market players i.e., rising upstream cost, which was eventually putting up big inflationary pressure on downstream consumers. Thus, consistent rise in price of Acrylic Acid was observed in USA during this quarter, which assessed around USD 2200/MT during October.
Asia
Asian market trend for Acrylic Acid was similar for most of the countries during this quarter. Market activities in China kept on fluctuating on the back of several different reasons, the prominent one was suddenly appeared coal shortage in the country. Due to coal related issues Acrylic Acid shot up to a very high value in small span of time, which later came down with respect to the improving availability in the country. Being highly dependent on China, Indian market also fluctuated in a similar manner. Despite firm offtakes from the domestic market, Acrylic Acid prices heard declining in Indian market too, as they were already hovering a very high value. Conclusively, Acrylic Acid prices assessed around USD 2904/MT during mid of November.
Europe
European market kept battling with soaring energy prices, which was the prime reason behind rising prices of different commodities. Acrylic Acid price in Europe also followed the same trajectory as other, as the demand from the domestic market marked a sudden rebound, while limited availability and high upstream value left convertor anxious. Due to consistent hikes in Acrylic Acid cost, downstream acrylates had to follow the similar pricing dynamics, besides their margin were already shrinking week over week in the regional market. Trade activities in the regional market also didn’t help supplies to improve, as whole region suffered with exorbitant hike in input cost.
For the Quarter Ending September 2021
North America
In the third quarter of 2021, high demand amidst tight supply across North America escalated the pricing trend of Acrylic Acid. Being a crude oil derivative, its feedstock Propylene witnessed a constant hike in its prices which fumed the prices of Acrylic Acid and its downstream products. Additionally, by the end of August, disrupted caused by Hurricane Ida in the United States not only impacted the functioning of several manufacturing plants including Propylene and Acrylic Acid but also disrupted the supply chain across the international market. For instance, Dow, was compelled to shut down its Acrylic acid plant in August end due to the power outages as an effect of hurricane. Besides, there was a substantial rise in the demand for Acrylic Acid from downstream adhesives and coatings industries owing to the growth in the construction sector which further encouraged this upward price trajectory in North America.
Asia
Acrylic Acid prices experienced prominent rise in the Asian market in Q3, owing to the significant climb in the prices of feedstock Propylene which is a crude oil derivative. High demand from downstream sectors and tightened availability of feedstock due to the reasons including a halt in several plants for maintenance following the port congestion in the July and August, respectively further sent ripples to the Acrylic Acid prices. Acrylic Acid FOB Qingdao-China monthly average in September stood at USD 2357 per MT portraying a growth of USD 412 per MT from the prices noticed in July. As India is the major importer of Acrylic Acid in the region, disruption in the supply chain from China and Middle East following covid restrictions and port congestion also contributed to the hike in Acrylic Acid pricing trend through Q3. Acrylic Acid Ex Mumbai monthly average in September raised to USD 2455.99 per MT perceived a rise of around 3.7% per MT in the prices of Acetic Acid since July.
Europe
Firm demand and limited availability of Acrylic Acid and its feedstock across the region led to the exponential rise in Acrylic Acid prices in the European market. Besides, disruption in the supply chain from the USA and Asia backed up by Ida hurricane and shut down of Ningbo port of China in August ending along with the skyrocketing freight cost across Asia-Europe and US-Europe trade routes are the other factors causing the rise in the prices of Acrylic Anhydride. Moreover, Gazprom shut down its natural gas supply to Europe for around two months, following the maintenance period. Besides, the demand for Acrylic Acid from the downstream industries such as Paints & Coatings and Adhesives remained high throughout the third quarter.
For the Quarter Ending June 2021
North America
Acrylic Acid prices soared in the region throughout the quarter, as the demand improved effectively amid upstream supply disruptions. Major cause for shortage of upstream products Propylene, n-Butanol and Ethyl Hexanol, was climate calamity that hit the Gulf of USA in February. However, the demand from downstream architectural coatings, packaging alongside construction adhesives remained firm to support this upward price trajectory in USA. Prices rose from USD 1690/MT to USD 1770/MT in USA from April to June. In addition, due to the short supply of Acrylic Acid in the country, prices of several end use products increased effectively during this quarter.
Asia
Acrylic Acid prices showcased mixed sentiments in the Asian market, where the demand supply fundamentals varied from country over country. The demand fundamentals in the Indian market remained dull, as the second wave of pandemic slumped the demand for downstream derivatives of Acrylic Acid. However, being a majorly imported commodity, prices of Acrylic Acid rose initially in the first half of the quarter in effect of rising freight cost, which later declined with improvement in trade activities across major Indian ports. Meanwhile in China, prices of Acrylic Acid declined in first half of Q2 but later traced back its upward trajectory with increment in prices of its feedstock. Therefore, Acrylic Acid prices hovered around USD 1317/MT and USD 1310/MT for India and China respectively during mid of the quarter.
Europe
Acrylic Acid prices in Europe remained high during this quarter, bolstered by firm demand and inadequate availability across the region. Another major reason behind this rise was, soaring freight cost across US-Europe and Asia-Europe trade routes, and extremely high feedstock material cost from USA, as an after effect of winter storm in February. Besides, recovering economies and production activities in several European countries increased the demand for Acrylic Acid from downstream adhesive, paints and coating sector.
For the Quarter Ending March 2021
North America
The North American market witnessed a fair demand for Acrylic Acid from the downstream sectors during Q1 2021, although limited availability supported the prices. The prices of Acrylic Acid were observed rising in a consistent manner from USD 1490/MT to USD 1610/MT starting from January to March 2021, due to critical shortage of the feedstock chemicals like Propylene. The reason behind this shortage was freezing weather across the US Gulf Coast region, which aggravated the global shortage of several petrochemicals. On the other hand, demand from the downstream sectors like coating, packaging and constructional adhesive remained high during this period.
Asia
Global shortage of feedstock Propylene and Acrylic Acid strongly impacted the Asian Acrylic Acid prices across during Q1 2021. Production constraints were heard from several key manufacturers across Asia, like the shutdown of Tansee’s Acrylic Acid manufacturing unit in Saudi Arabia, fire accident at Zhenjiang Satellite Petrochem plant in China with prolonged shut down of LG chem plant in South Korea. Meanwhile, Propylene prices were running crazy high, that led the average FOB prices of Acrylic Acid to rise from USD 1130/MT to USD 1690/MT in China during January and March 2021.
Europe
Europe encountered acute shortage of Acrylic Acid amidst fair demand from the domestic market, during this quarter. Bad weather played an important role in creating a shortage at several areas and countries across Europe, transportation facilities were disrupted due to freezing cold weather in some areas, as many railway lines chocked due to icy winter. In addition, Evonik Announced forced majeure on its Acrylic Acid plant in Germany, similarly Radici also imposed force majeure on its Acrylic Acid site based in Germany due to bad weather conditions.
For the Quarter Ending September 2020
North America
The North American Acrylic Acid market struggled to perform well during the third quarter owing to hurt dynamics in the United States and Canada. Major Acrylic Acid producers in the region witnessed unchanged quarterly numbers especially despite reportedly slight gain in the demand for construction and packaging adhesives. Even as buying interest continued to improve, resurgence in COVID-19 cases kept the players in confusion. Pricing graph remained pressured but increased moderately in August extending gains of the feedstock Propylene.
Asia
The Asian market for Acrylic Acid was seen less rosy in this quarter due to dampened demand from the downstream sectors such as paints, coatings and adhesives amid weak global macroeconomics despite rise in the industrial activity as Covid resurgence continues to pressure demand in several Asian economies. Supply was curtailed amid scheduled turnarounds in Taiwan, Indonesia and Malaysia. The quarter ended with India entering the peak season as it prepares for the Diwali festival. The demand of butyl acrylate, the most actively traded grade among downstream Acrylates in Asia, have been on a downtrend since July.
Europe
Some European Acrylates producers announced maintenance shutdowns in the beginning of the third quarter, thereby tightening the regional availability. Leading producer Arkema announced an increment in the EU Acrylic monomer prices compared to the last quarter to make up for the losses incurred in the previous quarters. Downstream acrylonitrile-butadiene-styrene (ABS) was enjoying healthy margins amid strong demand up tick. Spot ABS prices were heard registering double-digit increase with improving buyer’s response towards the year end.
