【ABS Morning Briefing】The support from the cost side has weakened, and it is expected that the ABS market will maintain a narrow range consolidation today.
1. Key Points of Focus
1. Crude Oil: On 3/4, the U.S. tariff hike policy triggered potential trade dispute risks, coupled with OPEC+ planning a slight production increase from April, leading to a decline in international oil prices. The NYMEX crude oil futures contract for April fell by $0.11 to $68.26 per barrel, down -0.16% month-over-month; the ICE Brent crude oil futures contract for May fell by $0.58 to $71.04 per barrel, down -0.81% month-over-month. China's INE crude oil futures main contract 2504 fell by 7.7 to 531.5 yuan per barrel, and in night trading, it fell further by 12.7 to 518.8 yuan per barrel.
2. Price List:
3. Market Outlook
Yesterday, the market prices in Dongguan rose locally, with transactions mainly driven by rigid demand. The East China market saw minor adjustments, with no significant changes overall. The raw material prices dropped yesterday, weakening the cost support for ABS. It is expected that today, the domestic ABS market prices will maintain a narrow range consolidation trend.
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