Trading activity has been slowing down in China's ABS market recently, prompting some traders and distributors to offer discounts in order to speed up their sales. Suppliers of the material, however, are said to be standing firm on their prices, with these producers commenting that they would rather reduce their operating rates than cut their prices.
This all according to plastics pricing service Chemorbis. Import ABS offers in the Chinese market were stable at the upper end of the range this week while prices dipped $20/ton on the lower end of the range on a week-over-week basis. A similar trend was observed in the domestic market, where the low end of the overall price range shed CNY300/ton ($45/ton) while the upper end of the range remained unchanged over the past week. Traders and distributors were generally more willing to concede to price reductions than producers, with several traders telling Chemorbis that they are prepared to sacrifice margins in order to pare down their stock levels while adding that they are not reducing their purchase volumes from producers as they are not very optimistic about the demand outlook for the coming month....