Daily Review: Supply and Demand Continue to Tussle as ABS Market Slides Amid Volatility

Market Review: On April 28, the average price of ABS was 12,148 yuan/ton, down 76 yuan/ton from the previous trading day, a decline of 0.62%. Today, ABS prices fluctuated and declined. The cost side provided limited support, and the sales of petrochemical companies were sluggish. With the approach of the holiday, some quotations continued to decrease. Although some downstream buyers made purchases for immediate needs, the market center continued to move downward, and the supply and demand sides kept engaging in a prolonged struggle.

Price: In the East China market, the quoted price for Jihua 0215A is RMB 10,750 per metric ton, remaining unchanged from the previous trading day; in the South China market, the quoted price for Jieyang 0215A is RMB 11,200 per metric ton, down by RMB 150 per metric ton from the previous trading day. As of the time of this report, the mainstream quotation range for this grade in the East China market is RMB 10,650–10,850 per metric ton.

Upstream: On April 28, 2026, the average market price of styrene was 10,007 yuan/ton, a decrease of 46 yuan/ton from the previous working day, a drop of 0.46%. Today, the styrene market experienced a decline followed by a rebound, with the mainstream spot prices in the East China market ranging from 10,020 to 10,100 yuan/ton. The crude oil market showed a strong trend today, providing a positive boost. However, news of the early restart of domestic styrene facilities, coupled with the continuation of a weak market expectation, led to a decline in the EB futures. Nevertheless, in the short term, the destocking of styrene provides some support to the market bottom, leading to a rebound in the EB futures after the decline.

Future market forecast: The cost side is expected to remain weak and stable, while demand from small and medium downstream sectors remains weak, leading to significant selling pressure in the market. It is expected that the domestic ABS price will fluctuate slightly tomorrow. Taking East China's 0215A as an example, the ABS price is expected to be between 10600-10800 yuan/ton.