SunSirs: China EPS Prices Fell first and then Rose in December 2023
January 02 2024 15:13:57 SunSirs (Selena)
According to monitoring data from SunSirs, the average quotation for EPS ordinary materials at the beginning of the month was 10,075 RMB/ton, and the average price for EPS ordinary materials on weekends was 10,000 RMB/ton, a decrease of 0.74% and a decrease of 4.76% compared to the same period last year.
In early December, crude oil weakened, styrene declined, and cost support weakened. The EPS wait-and-see atmosphere remains unchanged, with merchants maintaining their essential needs while the negotiation atmosphere is average. The EPS market may have slightly weakened consolidation, with the reference price for EPS ordinary materials in the South China region being around 9,500-9,600 RMB/ton (including tax).
In late December, with the rising prices of crude oil and styrene, supported by favorable cost factors, manufacturers raised their prices, and merchants increased their prices for shipments. The market atmosphere slightly improved, but the buying mentality remained cautious, and the continued pursuit of higher prices for styrene was limited. The market once again stabilized and consolidated.
EPS is affected by the upstream pull up, and the market atmosphere has slightly improved. It is expected that the domestic EPS market may experience a narrow range of fluctuations.
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