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[Industry Focus]：Market demand continues to be weak! Recycled ABS material prices decline!

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, although in the traditional peak season, but the regenerative ABS market demand is weak, trading is not fast. The market supply is relatively abundant, the demand release is slow, the price difference between the old and new materials is not big, the transaction is not fast, and the price pressure drops. Short-term market fundamentals are difficult to improve and the market is weak.

although the

is in the traditional peak season, the regenerative ABS market in March this year did not show signs of the traditional peak season, with slow trading and falling price pressure. On the one hand, the market supply is relatively abundant, demand release is slow, downstream manufacturers procurement enthusiasm is limited. On the other hand, the overall price of new materials fell mainly, and the price of new and old materials was not much different, which was unfavorable to the market of recycled materials. The price of recycled materials fell under high pressure.

, ABS regeneration market price under pressure to fall

the slow recovery of demand in the ABS regeneration market in March, the pace of trading was not fast and price pressures fell. As of March 28, the price of Wen'an ABS beige granules reached 8,300-8,500 yuan/ton, a decrease of 350 yuan/ton from the same period last month, and a decrease of 2350 yuan/ton from the same period last year; the price of Linyi black granules was 7800-8000 yuan/Ton, a decrease of 200 yuan/ton from the same period last month, and a decrease of 1150 yuan/ton from the same period last year.

再生ABS价格走势.png

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fundamentals are weak, new and old material prices are not much different, recycled material prices are high pressure down.

fundamentals: On the supply side, the overall wool supply in the market in March was relatively acceptable and the overall production environment was relatively stable. Coupled with the accumulation of pre-inventory, the overall supply of the market is relatively abundant, some of the cargo holders have more inventory. On the demand side, the release of market demand is slow and difficult to meet expectations. Downstream manufacturers do not have many orders, some of the main digestion of pre-inventory, procurement enthusiasm is not high, procurement mainly to meet the new demand for production. Early part of the manufacturers by the cost support, low-cost shipping enthusiasm is not high. However, with the gradual accumulation of inventory, capital turnover needs and caution in the later market, manufacturers' enthusiasm for shipping has increased, and manufacturers' profits have increased.

new materials: In addition to weak fundamentals, the difference between new and old materials has not widened, which has a negative impact on the ABS market. In general, the overall trend of new material ABS in March was mainly down, and the difference between new and old materials narrowed. Although the prices of some new materials have rebounded in the later period, the price difference has not widened, and it is not enough to drive the demand and price of recycled materials. Recycled high-priced recycled materials are under pressure to ship and prices are falling. As of March 28, the average price difference between new and old materials in March was about 1428 yuan/ton, compared with the average value of 1507 yuan/ton in the same period last month and 22240 yuan/ton in the same period last year.

再生ABS联动性分析.png

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the fundamentals are difficult to improve the overlay of new materials of weak shocks, short-term market weakness is mainly.

on the supply and demand side of the

, the supply of wool in the recycled ABS market is fair and the production environment is relatively stable. In addition, the short-term market supply is expected to increase and the overall market supply will be relatively abundant. Some manufacturers deliberately control inventory, flexible production. Although the downstream traditional peak season of the ABS market is undergoing regeneration, due to the impact of the general environment and orders, the release of short-term demand is still difficult to meet expectations, and the follow-up of the demand side is still an important concern. In terms of new material ABS, it is difficult for the short-term market demand growth rate to outperform the supply growth rate, and short-term prices may fluctuate weakly, making it difficult to drive the price of recycled materials. Regeneration entrepreneurs are cautious.

Source: Zhuo Chuang Chemical

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