ABS Market Sees Varied Regional Pricing; SPL to Boost Domestic Capacity by 2025
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ABS prices across India show different trends in different regions, with the lowest in Ahmedabad. Supreme Petrochem Ltd. is scaling up production capacity with a new ABS project expected by March 2025. Meanwhile, contract prices for European ethylene and propylene have risen.
Key Takeaways
- Natural ABS prices in India show regional variation: Chennai at ₹1,45,000/MT, Delhi at ₹1,44,000–₹1,48,000/MT, and Ahmedabad at ₹1,38,000/MT.
- Supreme Petrochem Ltd. plans to expand ABS production, with the first 70,000 MTPA phase expected by March 2025.
- European ethylene and propylene contract prices increased in November.
Polymer Price: Regional ABS Pricing Update
- In Chennai, Natural Styrenix ABS is priced at ₹1,45,000 per metric tonne (MT).
- In Delhi, Natural Bhansali ABS is available at ₹1,44,000/MT.
- Natural Lotte ABS is priced higher at ₹1,48,000/MT.
- Meanwhile, in Ahmedabad, Natural Taita ABS is offered at a lower rate of ₹1,38,000/MT.
Demand and Supply: ABS Production Capacity Expansion in India
- Supreme Petrochem Ltd (SPL), a market leader in polystyrene and expanded polystyrene (EPS) with over 50% market share, plans to begin commercial production of its mass ABS project’s first phase by March 2025.
- SPL, part of the Rajan Raheja Group, is also working on expanding its Compounds, Masterbatches, and EPS capacities at the Amdoshi plant.
- The ABS project is set to have a total capacity of 140,000 metric tons per annum (MTPA) at the Amdoshi plant, developed in two phases of 70,000 MTPA each. The first phase is scheduled for completion by March 2025, while the timeline for the second phase is yet to be determined.
Polymer News: Updates on Global Ethylene and Propylene Contract Prices
- The November contract price of European Ethylene increased by €30/MT from October’s settlement, now at €1,212.50/MT, FD North West Europe.
- Versalis plans to shut down its LDPE plant in Ragusa, Italy.
- The November contract price of European Propylene rose by €25/MT from October, now at €1,085/MT, FD North West Europe.
- Saudi Aramco raised its November propane contract price for Asia by $10/MT to $635/MT, and the butane contract price by $10/MT to $630/MT from October levels.
Expert Opinion: Anticipated Trends in the ABS Market
- The ABS market is expected to face continued downward price pressure due to structural imbalances in supply and demand coupled with limited recovery in demand. Weak support from upstream costs and a wait-and-see sentiment among buyers may keep prices low. Traders' concerns over future demand growth could reduce warehousing activity, slow inventory movement, and limit market offerings.
Daily Market Report
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