SunSirs: China EPS Market Transaction Slows Down and Price is Weak
March 16 2021 10:31:08 SunSirs (Selena)
According to the monitoring data of SunSirs, the average price of EPS common material was 11,075 RMB/ ton on March 8, and the average price of EPS common material was 11,050 RMB/ ton on March 12, up 22.78% compared with the same period last year.
At the beginning of last week, crude oil and other commodities were strong, styrene was on the rise, crude oil and other commodities in the middle of last week were significantly callback, styrene futures and spot were on the decline. As of March 11, Jiangsu styrene spot was about 9,300 RMB/ ton, down 375 RMB/ ton or 3.88% compared with the closing price of 9,675 RMB/ ton on March 4.
Styrene callbacked, EPS ex-factory prices fell sharply, some EPS factory inventory pressure was obvious, the overall market atmosphere was not good. As of March 11, Jiangyin Jianlong's ordinary materials had been delivered at 10,900 RMB/ ton, which was stable on a month on month basis, while its fuel had been delivered at 11,200 RMB/ ton, which was stable on a month on month basis. Some EPS downstream have not yet returned to the market, and the downstream construction is slow. In addition, the cost pressure is obvious, so the market demand is expected to increase slowly this week.
East China's main port inventory is expected to decline, the market is long short deadlock, styrene is expected to be stronger this week, China EPS market is expected to be stronger this week.
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