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SunSirs: Supply Dropped Slightly, and the Styrene Market Price in Shandong Rose

December 07 2022 09:57:48     SunSirs (John)

Price trend

According to the monitoring of SunSirs, the mainstream price of styrene in Shandong has risen recently. On December 1, the average price of styrene in Shandong was 7,700.00 RMB/ton, and on December 6, the average price of styrene in Shandong was 7,941.67 RMB/ton, an increase of 3.14%. The price fell 3.15% year on year.

Analysis review

Recently, the styrene market price has risen. It can be seen from the above figure that the recent price of styrene has been dominated by shocks, and the price was called back in this week. The market of pure benzene was consolidated, and the cost support was average. Although the downstream was just in demand, the purchase intention was good, which had certain support for the market. There might be a small drop in the port inventory, which was good for the styrene market. It is expected that the styrene market will mainly rise in the short term.

In terms of raw materials, recently, pure benzene rebounded slightly, and the fundamentals of pure benzene were poor. East China ports had accumulated inventory, and the supply side continued to increase; downstream market was generally weak, and the purchases just based on demand. Combined with the weak trend of crude oil, the cost support was poor. The price of pure benzene fell under the pressure of multiple negative factors. After the fall of pure benzene, the downstream buying recovered, and prices rebounded slightly near the coming weekend. At the beginning of the week, there were about 141,000 tons of pure benzene in East China Port, an increase of about 22,000 tons compared with last week.

In terms of downstream, the three major downstream of styrene rose and fell at different levels. As of December 6, the PS market shocked in a narrow range, the upstream styrene continued to support the high price, the downstream remained rigid demand, and the merchants' shipping pace was slow. The quotation reference of mainstream brands excluding tax: Zhenjiang Chimei PG33 quoted 11,080 RMB/ton, Taiwan Taihua 5250 quoted 9,670 RMB/ton, Ningbo Taihua 535N quoted 9300 RMB/ton, Shanghai SECCO 123P quoted 9,290 RMB/ton, Thailand Petrochemical 150 quoted 10,070 RMB/ton, Guangzhou Petrochemical 525 quoted 8,770-8,800 RMB/ton.

Recently, EPS price fluctuated slightly. Overall transaction weakened month on month. The average price of EPS ordinary materials was 10,460 RMB/ton. The buying enthusiasm was not high. The EPS market price was weak. The manufacturer maintained a stable price for shipment, and the terminal demand was sluggish.

At the beginning of December, the domestic ABS market was stable. According to the data monitoring of SunSirs, the average ex factory price of domestic ABS on December 6 was 11,800 RMB/ton, down by 26.55% compared with the same period last year. Recently, the load of the ABS industry has been adjusted by a narrow margin. On the 6th, the overall plant commencement remained above 90%, and the supply of goods on the site continued to be abundant. The enterprise was dragged down by the raw material side, and the factory price was lowered. At present, downstream factories, including the main terminal household appliances industry, have poor enthusiasm for stock preparation, and the overall market trading is weak. The traditional peak demand season has ended, and the overall support for demand has dropped. The wait-and-see attitude of buyers has increased.

Market outlook

In the near future, the port styrene inventory has shrunk slightly, and the spot supply is expected to decline. Downstream procurement will remain just in demand, and the styrene market is expected to rise slightly mainly.

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