Bullish Rally in Feedstocks Push European Acrylonitrile Butadiene Styrene Prices in March
As of last week of March, Acrylonitrile Butadiene Styrene market has observed another price hike on the back of strong cost pressure from upstream feedstocks. ABS market has been firm in the European market, and the latest gain in the prices has further deterred the procurements from buyers amid sluggish demand fundamentals. Feedstock prices have increased consistently in the last two months due to strong crude oil and natural gas prices throughout Europe on the back of ongoing uncertainties around the supply of energy feedstocks in the global market. Market dynamics were tighter as the demand for crude oil was outpacing the available supply; however, the Ukraine-Russia conflict has further exacerbated the demand-supply dynamics. In the European region, demand from the Automobile industry has slowed down in H2 of Q1 owing to weak output rates from one of the most productive industries in Europe. This has resulted in weaker procurements from the downstream users. Since the beginning ...