Market sources across Asia informed SSESSMENTS.COM that ABS Injection suppliers in the region are under immense pressure to adjust down offers as demand for the grade remains unimproved. In the week commencing July 13, ABS Injection offers in the Asia market were captured stable to decrease compared to a week ago. In Indonesia, import offers for cargoes of South Korea origin dropped by $20/ton, currently at $1,380/ton on LC at sight, CIF Indonesia main port basis. Cargoes from China were sold at $1,450/ton with the same payment and delivery terms. As for localized cargoes from South Korea, Malaysia, and Taiwan, offers were unchanged.
In India, offers for localized ABS Injection from Saudi stood at INR107,000/ton ($1,426/ton) on cash, EXW Bengaluru and excluding 18% GST. In the Vietnam market, traders maintained stable localized and import ABS Injection offers from Taiwan at last week's levels despite bearish buying sentiment. Import offers from Taiwan to the country ranged between $1,400-1,410/ton on LC at sight, CIF Vietnam main port basis. On the other hand, a South Korean producer revealed to SSESSMENTS.COM that the producer opted to decrease offers to China by $15/ton compared to the same period. As an exception, a Taiwanese producer decided to increase August shipment offers for ABS Injection to Malaysia by $30/ton compared to July shipment. The producer’s offers are now at $1,530/ton on LC at sight, CIF Malaysia main port basis. The producer is confident in sales because the producer has loyal buyers in Malaysia due to good product quality.
Weak demand for ABS Injection is linked to the truncated sales in the automotive sector. Manufacturers are running at low operating rates since demand for the end-products is unable to revive yet. Considering the current state of demand, market players opined to SSESSMENTS.COM that the outlook for ABS Injection remains cloudy. The players foresee that ABS Injection offers will continue to be soft in the near term.
