1、Today's Summary

①、Crude Oil: 3/3: The market is concerned that the US tariffs will drag down the global economy and demand, and it remains uncertain whether OPEC+ will delay its production increase plan, leading to a decline in international oil prices.

②、The monthly production of ABS in March is expected to rise.

2、Spot Overview

Table 1 Summary of Domestic Recycled ABS Prices (Unit: RMB/ton)

Using Shandong and Hebei regions as benchmarks, today's unpainted motorcycle shell crushed material in Shandong was collected at 5,200 RMB/ton, and the impact-resistant yellow granules in Hebei were collected at 7,500 RMB/ton. The prices are stable, in line with early expectations. There is a release of rigid demand downstream, but the mentality is cautious, with limited acceptance of high prices, leading to stronger bargaining power. Therefore, the current market prices are mostly stable.

3、Price Forecast

The recycled ABS market is currently in a state of range consolidation. Market participants' trading mentality appears quite unstable. Although the traditional peak demand season, known as "Golden March," has arrived, the release of demand does not seem as strong as expected, making it difficult for recyclers to achieve significant sales growth. At the same time, manufacturers are more risk-averse and are being particularly cautious in their operations to effectively control inventory levels.

4、Related Product Situation

ABS Market: Today, major oil regions have lowered their listed prices, while Zhejiang Petrochemical has raised its ex-factory price. Joint venture companies have remained unchanged, with partial increases in the South China market and little change in East China market prices. The prices of raw materials, such as butadiene and acrylonitrile, have decreased, weakening the cost support for ABS. It is expected that domestic ABS market prices will maintain a narrow consolidation trend tomorrow.