SunSirs: Market Weakness, China PS Price Decline
July 17 2023 11:23:00 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the average price of PS at the beginning of last week was 9,133 RMB/ton, and the average price of PS at the weekend was 9,100 RMB/ton. The price decreased slightly by 0.36%, a decrease of 22.55% compared to the same period last year.
The market price of PS (polystyrene) is slightly soft, with styrene significantly rising. Downstream buyers lack follow-up, and some merchants offer slightly lower profits. Reference for mainstream brand prices excluding taxes: Ningbo Taihua 535N reported 8,490 RMB/ton, while Shanghai SECCO 622P reported 9,000 RMB/ton for goods shortage; Guangzhou Petrochemical 525 reported 8,640 RMB/ton; Hong Kong Petrochemical reported 9,500 RMB/ton for 1841H and 9,150 RMB/ton for SR600.
Crude oil and styrene are strong, and some petrochemical manufacturers have raised prices, which may boost market atmosphere. Merchants have reported a slight increase in prices, but the pace of shipment has slowed down after the increase. The mainstream price of GPPS (Polyphenylene sulfide) in East China market is 8,250-9,300 RMB/ton, and the mainstream price of HIPS (polystyrene) is 8,800-9,550 RMB/ton.
The upstream performance of PS is strong, and it is expected that in the short term, domestic PS (polystyrene) may experience a slight upward trend with fluctuations.
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