According to the monitoring data of SunSirs, the average price of PS 525 at the beginning of December was 9,933 RMB/ton, and the average price of PS 525 at the end of the month was 9,766 RMB/ton, down 1.68% and up 3.30% year on year.

The factory price of domestic PS was lowered, the supply and demand structure of the industry was loose, and the merchants were unable to pull up the shipment and then reduced the price for shipment. In addition, the replenishment cost of the merchants was high, so the market price reduction was limited. At present, most small and medium-sized downstream factories have holidays in advance of New Year's Day, and their enthusiasm for replenishment has declined. On December 30, 2022, in the East China market, benzene penetration dropped by 100 RMB/ton to 8,700 RMB/ton, and benzene replacement stabilized to 10,250 RMB/ton.

Cost side: the fundamental support is limited. If there is no news of speculation and profits, there is no lack of shock and weakness. Supply and demand side: the supply and demand structure may still be loose, and the industry's capacity utilization rate may temporarily be on the high side. With the profit turning to loss, the pressure of increasing inventory appears. In the second half of January, there is no lack of production reduction for the devices, but the production at the beginning of the month may be maintained.

The overall performance of PS market in December was light, and it is expected that PS price will be dominated by shock and weak trend.

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