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[abs weekly review] raw material prices plunge amid broad weakness

Plastmatch 2026-05-28 19:47:01

1. Key Focus This Week

This week, the mainstream average price in the domestic ABS market dropped sharply, with the market under pressure and trending downward throughout the week.
The industry’s production and operations remained stable, with overall output basically unchanged from the previous week.
Petrochemical enterprises’ inventories have increased, and the pressure on goods circulation has been gradually rising.

2. This Week’s ABS Market Trends

During this period (May 21–May 28, 2026), domestic ABS market prices fell sharply. As tensions in the Middle East gradually eased, international crude oil prices declined, dragging down the three key feedstocks—styrene, acrylonitrile, and butadiene—collectively. The cost support across the industry chain completely collapsed, and bearish sentiment spread rapidly. Traders faced mounting pressure to move inventory, and in an effort to accelerate destocking, they cut quotes one after another, resulting in a clear stampede-like decline in market prices.

Coupled with the fact that from May to July the industry enters the traditional off-season for demand, with downstream operating rates and procurement volumes continuing to contract, the ABS market.supply exceeds demandThe overall pattern has become more pronounced; shipments from producers have been hindered, quotations have continued to loosen, and prices throughout the week have shown a volatile downward trend.

From the perspective of regional and individual grade performance, prices in the East China and South China markets declined across the board, with mainstream grades generally posting drops in the range of 4.7% to 7.9%. Among them, Zhenjiang Chi Mei 757K and Zhejiang Petrochemical ZA0210/ZA0211 led the declines, reflecting a sharp downward trend in the market.

3. This Week’s Raw Material Market Trend

3.1 Styrene

Styrene market is expected to remain weak and range-bound in the coming week. International crude oil prices are expected to decline, and pure benzene prices are also weakening, putting bearish pressure on styrene from the feedstock side. On the supply side, domestic output has slightly decreased during the monthly transition period, imported cargoes are relatively limited, and inventories at major ports have seen a slight drawdown, providing modest support to the supply side. However, on the demand side, downstream industry production has declined more than increased, with both domestic demand and exports decreasing simultaneously. Overall, the drop in demand is greater than the decline in supply. In summary, styrene is expected to trade weakly in the short term, and the Jiangsu spot price is expected to move within a range of.8900-9300 yuan/ton。

3.2 Butadiene

Although there is uncertainty surrounding the Middle East peace talks, the downward shift in the price center of crude oil and naphtha continues to weigh on market sentiment. On the demand side, ABS, SBS, and synthetic latex are gradually entering the off-season, with limited new demand for synthetic rubber and overall demand showing little improvement. On the supply side, there are some positives: in June, multiple domestic units are undergoing maintenance and there is relatively little supplementation from imported sources, leading the market to expect a slight tightening of supply and demand. After a significant price decline, some downstream players are showing a willingness to replenish inventories at lower prices. Overall, with both bullish and bearish factors intertwined, butadiene spot prices are expected to...Wide-range fluctuationspattern, with average prices declining slightly.

3.3 Acrylonitrile

In the near term, acrylonitrile fundamentals are expected to remain weak, with prices continuing a slight downward drift. Industry capacity utilization is set to keep rising, increasing market supply, while end-user demand growth remains sluggish. Spot market trading is subdued, and intermediaries show low willingness to operate. Constrained by costs, producers are relatively cautious in adjusting prices, which somewhat limits further downside.

IV. Market Outlook

Next week, styrene, butadiene, and acrylonitrile—the three major raw materials—are expected to continue to trend weaker, and the cost support for ABS production remains insufficient. Coupled with the market formally entering the off-season for demand, downstream purchasing sentiment is sluggish, and buying interest in the market is weak. It is expected that the ABS market will maintain... run on the weak side。

Pay special attention to

Supply sideIndustry output is expected to remain flat compared with this week, with overall supply release staying stable and inventory pressure continuing to persist.
Demand sideThe off-season effect continues to ferment, and downstream manufacturers show weak purchasing enthusiasm, mainly driven by rigid demand.
Cost sideThe weak pattern of the three major raw materials is difficult to change, making it challenging to form an effective support for ABS.
Psychological AspectThe current market sentiment is broadly bearish; however, after a continuous price decline, some bottom-fishing activities have emerged, which may slightly slow down the downward trend.

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