This week, the domestic styrene price shock performance, the overall shock range is relatively small. Within the week, the high-end spot transaction in Jiangsu was 9750 yuan/ton, the low-end transaction was 9550 yuan/ton, and the high and low-end price difference was 200 yuan/ton. There was no support for styrene on the crude oil, macro and cost sides this week, with strong demand the main factor supporting styrene during the week. Although the dock inventory rose slightly at the beginning of the week, under the influence of the typhoon and the closure of the Yangtze River estuary, the inventory is not expected to continue to rise, and the spot price is supported. However, futures main disk gradually into the reduction, valuation repair, more than single active reduction intention to increase, disk prices fell slightly. As a result, the weekly basis also has a slightly obvious strengthening performance.
The downstream side
Downstream PS: This cycle, the domestic PS market price rises and shrinks, the range is 50-200 yuan/ton. Raw material styrene center of gravity as a whole, merchants light warehouse pull up mainly, but part of the high brand of shipping difficulties turned to lower prices. Factory price rise impact, part of the price up. Small and medium-sized traders and terminals look more and less active, procurement interest is less than before the festival, part of the low just need to purchase, transaction volume is difficult to hear. According to data from Longzhong Information, on September 15, 2022, the East China market diphenyl rose 100 yuan/ton to 10,100 yuan/ton, and changed benzene rose 100 yuan/ton to 10,700 yuan/ton.
Downstream EPS: This cycle, domestic EPS prices increased. Crude oil first rise and then inhibition, affected by the typhoon and Mid-Autumn Festival holiday, styrene prices first rise and then inhibition, EPS price rose slightly. ”Plum blossom” influence, early week styrene price support is obvious, EPS price with rise, but the terminal chasing cautious, market inquiry atmosphere is cold, market transaction is not good. As of September 15, Jiangsu sample enterprises ordinary material 10600 yuan/ton, a month-on-month increase of 1.92%, resistance fuel 11500 yuan/ton, a month-on-month increase of 1.77%.
Downstream ABS: In this cycle, the market price of domestic ABS rose across the board, the price of raw materials styrene, butadiene and acrylonitrile rose, the manufacturer’s cost rose, and ABS petrochemical plants increased their factory price. The market price has been rising this week, with the overall increase of around 50-300 yuan/ton. The market is buying higher goods rather than lower ones. Some traders are buying higher goods, and the overall transaction is not bad, but most of them are still in the hands of traders, and the actual terminal demand is limited. The price quoted in East China market this week is 12150 yuan/ton, up 170 yuan/ton month on month; South China market price 11083 yuan/ton, excluding tax, up 83 yuan/ton month-on-month.
Styrene forecast for next week:
Crude oil and macro weakness, the cost side is also difficult to support, the market will continue to be low inventories and strong demand as a support next week. However, the domestic spot supply may continue to increase slightly, and the arrival volume of the port is limited under the influence of the typhoon. The port is still dominated by low inventory, and the spot price and basis have supported expectations. Only part of the parking device has the possibility to resume production, and the market mentality may be affected by the time, the market will increase the number of active warehouse reduction mentality. Expected next week styrene is still weak shock trend, Jiangsu area spot price or 9300-9650 yuan/ton.
Post time: Sep-20-2022