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SunSirs: Analysis of Styrene Market on December 4

December 05 2019 11:05:44     SunSirs (John)

On December 4, the domestic styrene market rose slightly. In recent days, crude oil and bulk commodities rose steadily and rebounded, driving the market to open higher, and styrene market rebounded. The international prices of raw materials such as ethylene and pure benzene increased slightly. In the downstream, the price of PS fluctuates in a narrow range, and the downstream factories are not willing to prepare goods. Most transactions are based on small orders. On the ABS side, the market was in a high mood to make up orders in early November, but with the end of the stock up tide, market trading turned weak in the middle and late ten days. In terms of EPS, the price is stable, the downstream replenishment intention is poor, and the overall transaction atmosphere is general. Styrene has gradually entered the off-season, and the enterprise has multi-dimensional rigid demand procurement, with general demand performance. Recently, a large number of imported styrene arrived at the port due to the early channel blockade and the subsequent continuous arrival of imported goods. Recently, the styrene inventory in East China rose, bringing resistance to the rebound of the domestic styrene market. Overall, styrene price rebound is expected to be limited this week. In the short term, it is still bearish and prices are consolidated.

 

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