ABS

An interesting development of "who will relent first" was witnessed in this weeks' ABS market. Prices for ABS stagnated at US$1700/MT as a bulk of buyers and sellers continued to remain in the sideline. Sellers did not want to budge from the selling price of US$1700/MT, consequential to historically high ACN values and higher butadiene prices. Interestingly, general buying interest was pegged lower as buyers adopted a cautious stance in a bid to keep an eye on the influence of bearish crude oil market on downstream sectors.