SunSirs: Insufficient Market Confidence, China PS Price is Falling
November 13 2023 10:51:04 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the average price of PS at the beginning of this week was 9,733 RMB/ton, and the average price of PS at the weekend was 9,716 RMB/ton, with a price increase of 0.17% and a decrease of 3.48% compared to the same period last year.
The PS market price is slightly soft, with mainstream brand names excluding taxes. For reference, Ningbo Taihua 535N is quoted at 9,390 RMB/ton, Shanghai SECCO 123P is quoted at 9,290-9,300 RMB/ton, Thai Petrochemical 150 is quoted at 9,230-9,250 RMB/ton, Guangzhou Petrochemical 525 is quoted at 9,040 RMB/ton, and Hong Kong Petrochemical 1841H is quoted at 9,650-9,670 RMB/ton.
The domestic PS market continues to decline, with a range of 80-100 RMB/ton. The significant decline in crude oil has driven down pure benzene and styrene, and the price of PS ordinary materials has also fallen, with a temporary decrease less than that of the upstream. Merchants mainly sell at a profit margin and negotiate with actual orders, with some low level transactions.
The upstream raw materials of PS have fallen, and market confidence is insufficient. It is expected that in the short term, the domestic PS (polystyrene) price may mainly fluctuate in a narrow range.
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