SunSirs: China PS Downstream Wait-and-see, the Price was Down
April 19 2021 10:57:31 SunSirs (Selena)
According to the monitoring data of SunSirs, the average price of PS (GPPS 525) was 10,033 RMB/ ton on April 12 at the beginning of last week, and 10,000 RMB/ ton on April 16 at the end of last week, with a price drop of 0.33% and an increase of 30.43% compared with the same period last year.
Raw material styrene fell, the impact of bulk commodity market was weak, the buying wait-and-see resistance was strong, the market price was mainly reduced, and the low transaction volume was phased. The operating rate and inventory of PS industry fluctuate little. In Yuyao market, benzene penetration revenue is 9,750-13,200 RMB/ ton, while benzene conversion revenue is 13,300-15,250 RMB/ ton.
On the cost side, the domestic maintenance units of styrene are restarted, and new units are expected to be put into operation. The downstream acceptance of styrene is reduced, and the market supply side tends to be balanced or weak. On the supply and demand side, there is little room for the PS industry to start adjustment, but the inventory decline has slowed down. Small and medium-sized downstream procurement is still dominated by rigid demand, with general speculative demand.
Raw material styrene continues to rebound, business replenishment cost is on the high side, combined with the impact of transaction volume, short-term China PS market is expected to rise slightly.
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