SunSirs: China PS Cost is Firm, the Price is Rising

According to the monitoring data of SunSirs, the average price of PS (GPPS 525) on April 5 last week was 9,766 RMB/ ton, while on April 9 last weekend, the average price of PS (GPPS 525) was 10,033 RMB/ ton, with a steady increase of 2.73%, up 34.37% compared with the same period last year.

At present, the PS market is on the rise, with a range of 100-150 RMB/ ton. The cost center of gravity moved up significantly, driving the PS market to further explore the rise before and after the Qingming holiday. However, it is difficult for the market to accept the high trading volume. Since April 7, under the influence of the high level correction of styrene, the market price reduction and shipment situation have gradually increased, and the center of gravity has declined again. However, due to the change of benzene and the center of gravity is relatively strong through benzene. According to the data, on April 8, 2021, the benzene penetration revenue of East China market was 9,800-13,400 RMB/ ton, The price of low-end products decreased 100 RMB/ ton and of low-end products increasedd 100 RMB/ ton.

On the cost side, the raw material styrene fell back after rising, with a large range, and the cost support may decline. On the supply and demand side, the inventory further decreases, and the pressure on the supply side has not increased yet, but the small and medium-sized downstream has poor acceptance of the high level, and the potential pressure on supply and demand exists. It is estimated that benzene penetration in East China market will be 9,700-13,300 RMB/ ton.

Short term PS market or is weak consolidation in China. Styrene was high shock, coupled with weak market delivery, negotiations or weakened. It is estimated that benzene penetration in East China market will be 9,900-13,400 RMB/ ton.

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