Stable ABS Prices Amid Global Surplus and Steady Domestic Demand
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The Indian polymer market remains steady across most categories, with minor fluctuations in specific grades. A global surplus in ABS supply is pushing prices downward, while domestic demand remains consistent. Maintenance shutdowns at key global facilities are expected to tighten supply in the short term for certain polymers like PP and PE.
Key Takeaways
- Polymer Prices: ABS prices remained steady across key markets. Black-grade ABS from Lotte was priced at ₹1,55,000/MT in Kolkata with no daily change.
- Supply and Demand Trends: Global ABS markets face a supply surplus, creating downward pressure on prices.
- Polymer News: Petronas Chemicals restarted its ethylene cracker in Malaysia, Lotte Chemical Titan has shut PP and PE facilities in Malaysia, impacting a combined capacity of 975,000 tons until late December.
- Expert Insights: ABS prices in India are expected to remain stable or slightly decline in November 2024, influenced by global oversupply and steady domestic demand.
Polymer Prices: Stable Polymer Prices Across Key Categories
- ABS prices remained steady across key markets.
- Black-grade ABS from Lotte was priced at ₹1,55,000/MT in Kolkata with no daily change.
- In the natural grade, Styrenix was listed at ₹1,45,000/MT in Chennai, Bhansali at ₹1,44,000/MT in Delhi, Lotte at ₹1,48,000/MT in Delhi, and Taita at ₹1,38,000/MT in Ahmedabad, all without any price fluctuations.
Polymer Supply and Demand: Global Oversupply Challenges for ABS
- The supply and demand for ABS (Acrylonitrile Butadiene Styrene) in India for November 2024 are being shaped by several factors, including global market trends, domestic production, and demand from end-use industries.
- Globally, the ABS market is facing a supply surplus, which is exerting downward pressure on prices.
- Domestically, ABS production in India is expected to remain steady, with major manufacturers operating at optimal capacity levels.
Polymer News: Operational Updates from Global Polymer Facilities
- Petronas Chemicals Ethylene has restarted its cracker after maintenance work. The facility is located in Kerteh, Malaysia.
- Chang Chun Petrochemical is planning to restart its No.1 Bisphenol A (BPA) line in Changshu, Jiangsu, China.
- Lotte Chemical Titan has shut its PP and PE plants for unscheduled maintenance until the end of December 2024. The facilities, located in Pasir Gudang, Malaysia, have a combined annual capacity of 640,000 tons for PP and 335,000 tons for HDPE.
Expert Opinion and Forecast for November 2024
It is expected that, considering the global supply surplus and steady domestic demand, ABS prices in India will remain stable or witness a slight decrease in the coming days of November 2024.
Daily Market Report
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