ABS market trend preference Traders are cautious on the sidelines

Oil prices surged on Monday, with light sweet crude futures for March delivery on the New York Mercantile Exchange closing up $1.
84, or 6.
2 percent
, at $31.
48 a barrel.
Brent crude futures on the European ICE futures exchange rose $1.
68, or 5.
1 percent, to $34.
69 a barrel
.

In the spot market, the ABS market quotation is stable and small, the downstream demand is still flat, and the wait-and-see atmosphere is strong
.
Dongguan's ABS market rose to varying degrees, with the increase concentrated in 30-100 yuan / ton
.
Middlemen's offers were generally higher, downstream factories were mainly wait-and-see for the time being, and follow-up was relatively slow
.
The overall supply is abundant, and some grades are slightly tight
.
The Ningbo ABS market offered about 100 yuan / ton, and the middlemen generally rose, but there was a small space
for negotiation in the actual transaction.
Downstream factories are mostly wait-and-see for the time being, most of them are well supplied, and some are slightly tight
.

Due to the increase in petrochemical quotations, traders' enthusiasm has increased
.
It is expected that the ABS market may be partially upside tomorrow
.