SunSirs: Trading Atmosphere Was General, and PS Prices Declined Overall
March 31 2023 10:51:30 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, at the beginning of March, the average price of PS brand 525 was 9,433 RMB/ton, and at the end of the month, the average price of PS brand 525 was 9,350 RMB/ton, a decrease of 0.88%, and down 12.75% compared to the same period last year.
Analysis review
In March, the price of PS market was mixed, and the overall fluctuation was downward. Zhenjiang Qimei PG33 quoted 9,760 RMB/ton, Taiwan Taihua 5250 quoted 9,450 RMB/ton, Ningbo Taihua 535N quoted 8,40-8,750 RMB/ton, Shanghai SECCO 123P quoted 9,370 RMB/ton, Thai Petrochemical 150 quoted 9,040 RMB/ton, Guangzhou Petrochemical 525 quoted 8,430-8,480 RMB/ton, Hong Kong Petrochemical 1841H quoted 8,330-8,350 RMB/ton.
On the cost side, the strong performance of pure benzene combined with the tight balance of styrene fundamentals may drive the strong finishing of styrene. On the supply side, the overall supply of domestic PS was relatively sufficient, and the inventory pressure of petrochemical plants was expected to be high, and the pressure on the PS supply side remained. Demand side: Due to limited downstream demand improvement, the supply and demand side gradually tended to be loose, and the overall market inquiry atmosphere was general, and the on-site trading atmosphere was flat.
Market outlook
The industry's capacity utilization rate has increased, and the market is cautious about high-priced goods, with a strong wait-and-see mood. It is expected that the domestic PS market may be dominated by a volatile consolidation trend in the short term.
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