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SunSirs: Poor Cost Support, China EPS Price Drops
December 01 2023 14:00:28SunSirs(Selena)

According to monitoring data from SunSirs, the average quotation for EPS ordinary materials at the beginning of the week was 10,100 RMB/ton, and the average price for EPS ordinary materials on weekends was 10,075 RMB/ton, a decrease of 0.25% and a decrease of 3.47% compared to the same period last year.

Crude oil is weak and volatile, styrene continues to weaken, EPS cost support is weak, and the demand side trend is weak. The market mainly deals in demand, and the off-season continues. As the weather gradually cools, demand will continue to weaken and downstream orders will decrease.

Upstream support weakened, terminal profits were meager, and buying follow-up was limited. Overall transactions were average, and there was a strong wait-and-see atmosphere in the market. Buying was mainly in demand, with the reference price for EPS ordinary materials in the South China region being around 9,700 RMB/ton.

EPS cost support is insufficient, and it is expected that the domestic EPS market may experience a narrow range of fluctuations.


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