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Daily Review: The sluggish demand situation is hard to change, and the ABS market is weakly consolidating.

Baichuan Yingfu 2025-03-25 14:43:49

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On March 25, the average price of ABS was 11,195 yuan/ton, down by 63 yuan/ton or 0.56% from the previous business day. The domestic ABS market price weakened and settled, with chemical manufacturers quoting slightly volatile. Cost support is general, and downstream purchasing enthusiasm is not good.

Upstream:

The今日 benzene styrene market opened higher but closed lower, with spot prices in the East China reference range at RMB 8,020-8,100 per ton. On the basis of multiple overseas styrene units being shut down, the supply pressure has been alleviated. At the same time, there are many styrene unit maintenance plans in China in April. Even if the high inventory of downstream 3S continues and terminal exports remain weak, there is still an expectation of continued destocking in the future. However, in the short term, under the pressure of spot demand and cost drag, operators mainly adopt high-selling operations. The supply and demand of raw material benzene are weaker than that of styrene itself, and after the spread of the price difference between the two, attention should be paid to the SM-BZ long-term high-selling operation. It is expected that the styrene market will rebound slightly in the afternoon, with the mainstream reference price range for East China spot expected to be between RMB 8,050-8,120 per ton.

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The Jilin Chemical 0215A quote in the East China market is RMB 10,550 per ton, down RMB 50 per ton from the previous working day; the Yuedong 0215A quote in the South China market is RMB 10,470 per ton, unchanged from the previous working day. Domestic ABS prices are weakly declining, with low demand and continued pressure on supply. Market sentiment is largely bearish, with negative factors prevailing. It is expected that domestic ABS prices will trend slightly lower tomorrow, with the price of East China's 0215A ABS expected to range between RMB 10,500 and RMB 10,800 per ton.

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Daily Review: The sluggish demand situation is hard to change, and the ABS market is weakly consolidating.

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