24 Oct 2017
China Sourcing Update: Raw Material Prices Hard Goods (Sep 2017)
1. Price index of ABS resin rises further in September
The price index of ABS resin went up by 1.9% mom in September, recording month-on-month gain for four consecutive months (see exhibit 1).
The main reason for the increase in the prices of ABS resin in the month was a surge in the prices of acrylonitrile, a major raw material of ABS resin.
Looking ahead, we expect the prices of ABS resin to fall in October, as upstream costs dropped during late September to early October; and the restocking demand from manufacturers of home appliances, a major downstream sector of ABS resin, is likely to decline further in the month as the high season for air-conditioner sales has passed.
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