【Morning Update on Recycled ABS】With limited new orders from manufacturers, the recycled ABS market is maintaining stable prices to support the market.

1. Key Points of Focus

1, 3/3: Concerns over the U.S. imposing additional tariffs, which may drag down the global economy and demand, coupled with uncertainty about whether OPEC+ will postpone its production increase plan, led to a decline in international oil prices. The NYMEX crude oil futures 04 contract fell by $1.39 per barrel to $68.37, a decrease of -1.99% month-over-month; the ICE Brent oil futures 05 contract (after rolling over) dropped by $1.19 per barrel to $71.62, a reduction of -1.63% month-over-month. China's INE crude oil futures main contract 2504 decreased by 3.3 to 539.2 yuan per barrel, and during the night session, it fell further by 12.7 to 526.5 yuan per barrel.

2, Yesterday, the market price in Dongguan rose, with transactions mainly driven by rigid demand. PetroChina has reduced its listed prices in major regions, but there were slight increases in some parts of the South China market, while the East China market saw minor adjustments. It is expected that today, the domestic ABS market prices will mainly maintain a narrow range of consolidation.

Unit: yuan/ton

3. Market Outlook

The recycled ABS market maintains stable prices, with trading frequency within the market not being very high. Recent price fluctuations have been small, and the price gap between new and old materials remains at a reasonable level, leading to a calm response from the recycled market, with stable quotations. Although the terminal market is gradually entering the traditional peak season for demand, currently, manufacturers of products are receiving limited new orders. Coupled with a lack of confidence in the future, they are replenishing stocks as needed, making it difficult to significantly boost trading volumes, thus failing to provide strong support for prices. In summary, in the short term, the market is expected to continue operating stably, with actual transactions conducted through negotiations.