Alan commented on styrene on September 11

2022-10-23
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On September 11, Alan commented on styrene

the decline in the internal and external styrene market this week was difficult to stop, but the trend in the second half of the week was better than that in the first half. In the absence of the cost market - crude oil and pure benzene fell sharply, the Asian styrene market continued to decline in the atmosphere of light trading this week. Affected by the overall decline of the outer market of crude oil, pure benzene and styrene, and the light downstream demand, the styrene market also fell synchronously this week. Moreover, the rate of decline accelerated, with a sharp decline of yuan in the week, and improved over the weekend

the Styrene Market in Asia continued to decline this week and rebounded at the weekend. The collapse of the cost market is still the direct driver of the market decline. From Monday to Wednesday, affected by the declining trend of crude oil, pure benzene and other aromatic compounds, and the sluggish demand market, Asian styrene continued to decline. On Wednesday, the FOB of styrene in South Korea fell to US dollars/ton, down US $35 compared with last weekend. On Thursday, the market closed smoothly, and the price temporarily stopped falling. The slight strengthening of pure benzene led to a slight stabilization of the styrene market. On Friday, supported by pure benzene, Asian styrene rose by $5/ton, and FOB South Korea price was $1/ton. However, the buyer's intention was not strong, and the market trading was still inactive

the trend of this week's internal market is similar to that of the external market. Under the joint action of the negative market conditions of oil prices, pure benzene and Asian styrene, the Styrene Market accelerated its decline this week, and the sharp decline in the current week ranged from yuan to yuan. The government, industry, University and research funds were enhanced to strengthen interactive exchange, and the weekend was improved. In East China, the Styrene Market in East China fell all the way this week. The sharp decline in oil prices has dealt a heavy blow to traders, and traders' bearish mentality has spread. Due to the scarcity of buyers and poor transactions, traders' quotations have been continuously reduced. At the same time, the poor market atmosphere of pure benzene and styrene in the outer disk makes the market mentality of Jiangsu more pessimistic. As of Thursday, the mainstream price of styrene in Jiangsu market was 11250 yuan/ton (from Zhangjiagang), down yuan/ton from last weekend. On Friday, the accompanying ratio decreased by 3.74%; The net profit attributable to the shareholders of listed companies was 458million yuan, which was negotiated higher by Asian pure benzene and styrene. At the same time, with the main traders in Jiangsu market unable to ship in time due to customs declaration problems, the market atmosphere immediately reversed and rose. Traders actively sought goods, while downstream purchases emerged, and the market source of low-cost goods gradually disappeared. At the close, the mainstream negotiation reached yuan/ton (zhangjiajia port tank), up yuan/ton from the previous trading day. In South China, the Styrene Market in South China fell slowly this week, with a stable atmosphere and relatively cold transactions. Under the influence of the falling atmosphere in East China and the decline of Sinopec styrene ex factory price, the market price of styrene in South China fell significantly this week. The retreat of buyers led to the lead screw, and the market lacked substantive negotiations. The closing price on Thursday was yuan/ton (delivered). On Friday, the positive atmosphere in East China promoted the actual transaction in South China market to a certain extent. The quotation of traders was stable, but the actual transaction price in the local market continued to fall, only at yuan/ton (delivery). Compared with the same period last week, the decrease was yuan/ton

according to the analysis of styrene disk this week, the sharp decline in upstream costs is the fundamental reason why styrene has to comprehensively consider energy efficiency, environmental protection and product quality

(see Longzhong petrochemical business for detailed comments)

on Monday/Tuesday, the Asian pure benzene market continued its decline last week. On Monday, the Asian pure benzene market fell by 12.5 US dollars/ton, and FOB South Korea closed at US dollars/ton. Traders took an off market wait-and-see attitude because of the bearish outlook. The sharp change in the price extension fee of pure benzene in the United States and Europe also suppressed the atmosphere of the Asian market. Some traders reported that the price of pure benzene was also affected by the price of toluene. On Tuesday, the Asian pure benzene market continued to fall by $25. On the one hand, it was mainly affected by the weakness of the U.S. market, but also suppressed by the bear market atmosphere in the upstream crude oil and naphtha markets. The Asian aromatic hydrocarbon market also showed a weak trend as a whole. From Wednesday to the weekend, the Asian pure benzene market mainly rebounded. On Wednesday, due to strong buyer interest, Asian pure benzene rose $10. Some producers and traders expect pure benzene prices to remain firm in the short term, as some buyers are looking for September and October shipments in the market. At the same time, the futures price difference in the U.S. market widened in the fourth quarter, which once again aroused the interest of Asian traders in the price of goods in October. Asian pure benzene rose slightly by $5 on Thursday. It is reported that South Korean manufacturers have short sold goods in the second half of September, and the remaining goods in the spot market in October are also less. On Friday, the price of pure benzene in Asia rose by $10/ton, and finally closed at $1/ton FOB South Korea. Customers were positive about the purchase of goods in the first half of October. Several traders said that some of their customers had a shortage of shipments in the first half of October. However, due to the large gap between the intended price of the buyer and the seller, the pure benzene market transaction is relatively cold. The domestic pure benzene market continued to be weak this week. Affected by the weakness of upstream crude oil, naphtha and downstream styrene, chitosan and phenol ketone markets. Affected by high inventory pressure, the domestic market fell

the styrene market still lacks strong support from the downstream demand market. Affected by the decline of styrene market, and according to past experience, the peak demand season for PS and EPS in August and September is about to pass, and crude oil continues to decline, so there are few buyers in the domestic market. Downstream products continued to show a downward trend this week

(see Longzhong petrochemical business for detailed comments)

device factors:

(see Longzhong petrochemical business for detailed comments)

prediction: (see Longzhong petrochemical business for detailed comments)

the domestic market fell sharply this week, and the pessimism spread. The upstream crude oil and pure benzene fell, the downstream derivative demand was weak, and the styrene market mentality fell to a trough under the impact of negative factors such as the recent sufficient supply of imported goods. The purchase intention of downstream and second-hand merchants is very low, and the market is slightly oversupplied, and the price decline is difficult to stop. However, driven by the external market's stop falling and rebound at the weekend, the internal market has stabilized. It is expected that the styrene market trend in the internal market will be mild next week, and the price will stop falling temporarily

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