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
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.
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.
For the Quarter Ending September 2020
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.
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.
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.
