SunSirs: With the Support of Raw Materials, the Price of PS Followed the Rise
March 14 2022 14:44:59 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the average price of PS GPPS 525 at the beginning of this week was 10,433 RMB/ton, and the average price of PS at the weekend was 10,666 RMB/ton, with a price increase of 2.24% and a decrease of 1.84% compared with the same period last year.
Analysis review
The domestic PS market has risen sharply, with a range of 150-950 RMB/ton. The situation in Ukraine affected the sharp rise in crude oil, and under the support of the rise in styrene, merchants actively followed the rise. Although buying was prudent in chasing high prices, on the whole, the market's situation of profit-cutting shipment was still acceptable. However, under the influence of a sharp turn down in the upstream, the market followed the downtrend on Thursday. On March 10, the East China market closed at 10,900-12,100 RMB/ton, low-end +700 RMB/ton, and high-end +950 RMB/ton.
The trend of crude oil and styrene dominates the market mentality. With the price running high, the buying operation is further cautious. The industry's profitability has weakened, but the short-term production reduction trend is still unclear, and there may be potential pressure on the supply side..
Market outlook
At present, merchants are cautiously watching, and the overall transaction has improved slightly. It is expected that the PS market may fluctuate at a high level next week, and there is no shortage of profit-cutting shipments in some parts.
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