[ABS Weekly Review] Supply Remains High, Prices Fluctuate Lower This Week

1. This week's hot topics:

1） This week's market prices fluctuated lower.

2） This week's industry output has slightly increased.

3） This week's petrochemical plant inventory increased.

This week's ABS market trend:

The ABS prices fell across the board during this period (September 18, 2025 - September 25, 2025). This week, some manufacturers faced increased shipping pressure and offered low prices to distributors, while some distributors sold off goods at low prices, leading to a decline in market prices. From the perspective of raw materials, the prices of the three major raw materials for ABS collectively fell this week, allowing ABS manufacturers to recover some profit. Some manufacturers increased their operating rates, keeping the industry's supply at a high level. Market sentiment is mostly bearish, with insufficient pre-holiday stocking demand, resulting in fluctuating and declining prices. In terms of market prices, the range for domestic materials is 8,880-9,250 RMB/ton, while for imported materials, it is 9,650-9,900 RMB/ton.

This week's raw material market trends:

3.1 Styrene: In the afternoon, the raw materials and main market showed some soft adjustments, and the styrene market was trading within a narrow range. In the Zhejiang market, there are reports of negotiation intentions at 6970/7010 yuan/ton, with specific transaction discussions ongoing.

3.2 Butadiene: As of the time of writing, the ex-tank self-pickup price for butadiene in Jiangyin, Jiangsu is around 8950-9000 yuan/ton, showing stability compared to the previous period. Downstream inquiry intentions are cautious, and the market trading atmosphere is relatively quiet, with sporadic merchants maintaining stable quotes, mainly waiting for buying intentions.

3.3 Acrylonitrile: The average price of acrylonitrile at domestic East China ports in September 2025 was 8,380 yuan/ton (statistical range from August 26 to September 25, excluding statutory holidays), an increase of 138 yuan/ton compared to the average price in August, with a rise of 1.67%.

4. Market Forecast:

The next ABS production and sales are expected to remain in surplus, with overall transactions being demand-driven. Key points to watch: 1. Supply side: The industry’s overall supply is expected to remain high next week, with increased operating rates at Shandong Yulong, Zhejiang Petrochemical, and Shandong Haijiang facilities, leading to a further increase in supply. 2. Demand side: ABS procurement demand remains weak. 3. Cost side: The price trends for styrene, butadiene, and acrylonitrile are weak, and the cost support is expected to be moderate next week. Sentiment: With the release of new production capacity and consumption continuing to stay in the off-season, pessimism dominates the market sentiment. It is expected that the ABS market prices will continue to undergo narrow adjustments or maintain a slight downward trend in the near term. Longzhong Information ABS Weekly Report.