SunSirs: Poor Parket Demand, China EPS Price was Stable
December 20 2021 14:06:48 SunSirs (Selena)
According to the monitoring data of SunSirs, the average price of EPS ordinary materials at the beginning of this week was 9,950 RMB/ ton, and the average price of EPS ordinary materials at the weekend was 9,950 RMB/ ton. The price was stable, up 9.34% compared with the same period of the year.
Domestic styrene prices rose, and the overall increase was limited. During the cycle, the spot high-end transaction in Jiangsu was 8,360 RMB/ ton, the low-end transaction was 8,100 RMB/ ton, and the price difference to the low-end was 190 RMB/ ton. Crude oil and macro conditions in the week have little effect on styrene. The market situation of pure benzene as a cost side raw material has become one of the driving forces for the bottom support of styrene and the slight rise in the week.
In December, the supply-demand balance was not as large as expected, and the US dollar price in the peripheral market was high. Export negotiation became a topic. Superimposed on the short upsurge of pure benzene Shandong market, the futures price rose during the week, driving the spot to rise slightly. Meanwhile, due to poor spot demand, the basis weakened significantly during the week.
In terms of cost, international crude oil may rise slightly, but pure benzene or deposit correction may be possible, coupled with general downstream demand, China EPS market is expected to be slightly weak this week.
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