SunSirs: Hips market price fell slightly this week

1、 Price trend

According to the bulk data list of SunSirs, the average price of domestic hips on May 20 was 12366.67 RMB/ton, down 0.27% from 12400 RMB/ton at the beginning of the week and 10.39% year-on-year.

2、 Market analysis

This week, the hips market was stable and weak, and the price fell slightly. The market of raw styrene fluctuated, and the hips market followed the market, but the logistics around the country was still poor, the transaction atmosphere was general, the manufacturer's shipment atmosphere was general, the price was reduced, and the market focus shifted downward. As of the weekend, the ex factory price of hips was mostly about 11600-13500 RMB/ton, and the price of GPPS 525 was mostly 10200-11000 RMB/ton. The PS market decreased slightly during the week.

In the international crude oil market, on May 19, the international crude oil futures rebounded and rose significantly. The settlement price of the main contract of us WTI crude oil futures was US $109.89/barrel, up US $2.85 or 2.66%; The settlement price of the main contract of Brent crude oil futures was US $112.04/barrel, up US $2.93 or 2.70%. Oil prices rebounded after falling for two consecutive days, mainly due to the fall of the US dollar exchange rate, which raised the valuation of commodities denominated in US dollars. In addition, the epidemic situation in Asia improved and restrictions relaxed, boosting demand expectations.

In terms of raw materials, the spot market of styrene has increased slightly recently. International crude oil prices rose, the price of raw material pure benzene continued to rise, and the cost of styrene was well supported. The start-up of some downstream projects was slightly general, maintaining the just needed procurement, curbing the rise of styrene, and the Styrene Market in Shandong rose slightly. Styrene is likely to follow the trend of crude oil, and the styrene market is expected to rise in the short term.

3、 Future forecast

The SunSirs believes that at present, the shipment of enterprises is not smooth, the mentality of operators is negative, and the market transaction atmosphere is general. It is expected that the hips market will operate stably and weakly in the short term.

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