INEOS Styrolution, the global styrenics supplier, announced a €45/mt price increase from July to August for its standard ABS. This follows recent small increases in upstream costs.
Acrylonitrile Butadiene Styrene (ABS) prices in Europe have been on an upward trend since June after the slump in April and May. In July, natural ABS prices increased €90/mt, according to GC Intelligence price assessments.
In July, INEOS Styrolution had announced a price increase of €110/mt.
While ABS demand remains low in some key sectors, in the past few weeks Asian imports have decreased. As ABS imports account for almost 40% of the European market, domestic producers have so far been able to take advantage of this market tightness.
As market fundamentals have improved, European producers are no longer losing margins. Moreover, the current ABS market dynamics in Europe should continue at least until September.