Prices fell in June as geopolitical risk eased, then rebounded in mid-July alongside butane. Producers returned from maintenance, improving supply, while summer demand remained weak. Higher prices nevertheless generated inquiries from price-sensitive overseas buyers.
Abundant supply and weaker demand had pushed sellers to reduce prices. Mid-July crude strength then lifted costs and prompted consecutive producer increases, taking domestic prices to roughly RMB 9,900–10,100 per metric ton.
ABS prices reached their lowest point since March around late June and early July as crude and upstream values declined. Renewed shipping and supply concerns then lifted oil and feedstock costs, leading producers to raise offers. Current market levels are approximately RMB 9,750–11,000 per metric ton.
These markets remain caught between cost-driven price support and weak seasonal demand. The durability of the rebound will depend on energy values, export interest and whether downstream buyers accept higher prices.