1、 Price trend

According to the bulk data monitoring of business society, the mainstream price of styrene in China fell slightly this week. On Monday (November 15), the price of sample enterprises of business society was 8987.50 yuan / ton, and on Friday (November 19), the price of sample enterprises was 8575.00 yuan / ton, a decrease of 4.59%. The price decreased by 3.65% compared with the same period last year.

2、 Market analysis

Styrene market price continued to decline this week. On November 15, East China styrene closed near 8950-9000 yuan / ton, and on November 19, 8550-8600 yuan / ton, down near 400 yuan / ton. The above is the tank price in Zhangjiagang. On November 15, South China styrene closed at 8850-8900 yuan / ton, and 8400-8450 yuan / ton on November 19, down by 450 yuan / ton. The delivery price of the above factories. This week, the energy and chemical commodities were generally weak, the fundamentals of styrene were expected to be weak, the mentality of merchants was damaged, and there was a lack of bottom buying and price chasing cooperation in the field. Although the port continued to go to the warehouse sharply and was supported by periodic low price recovery, the styrene was weak due to the production of new units in December, the supply increased, the downstream demand recovered slightly, the overall capital was bearish on the market.

In terms of raw materials, pure benzene fell sharply this week. As of Friday (November 19), the mainstream quotation was 6920.00 yuan / ton, down 640 yuan / ton or 8.47% from 7560.00 yuan / ton on Monday (November 15). This week, the trend of international crude oil was weak, the inventory of East China pure benzene increased sharply, and the market lacked favorable support. In addition, the listing of Sinopec pure benzene was lowered twice this week, a total of 600 yuan / ton to 7000 yuan / ton, and East China pure benzene fell below the 7000 yuan / ton mark on Wednesday. In addition, the term of downstream styrene continued to decline, resulting in strong bearish sentiment in the market.

In terms of operating rate, Baling Petrochemical and the first line of lishde were added to styrene in China this week, the load of individual large enterprises decreased, and the weekly average operating rate of styrene industry decreased to 73.92%, slightly lower than that of last week. In terms of port inventory, the port inventory decreased sharply this week, the short-term arrival was less, the arrival was less than the delivery volume, and the inventory was at an annual low.

Downstream, styrene showed a downward trend this week. ABS held steady, while PS and EPS fell slightly. In the PS market, as of Friday (November 19), the mainstream ex factory quotation of PS in East China was 10900.00 yuan / ton, down 1.51% from 11066.67 yuan / ton on Monday. This week, the supply of a few PS materials in Zhejiang was tight, and the operators intended to support the price operation. However, the market trading was weak, some merchants reduced the price and shipped, and the purchasing mood of small and medium-sized downstream factories was poor.

In the EPS market, as of Friday (November 19), the mainstream ex factory quotation of EPS in East China was 10575.00 yuan / ton, down 1.86% from 10775.00 yuan / ton on Monday. This week, the EPS operating rate decreased slightly, the cost support was weak, the overall demand was insufficient, the market merchants waited carefully, and the overall transaction was poor.

In the ABS market, as of Friday (November 19), the mainstream ex factory quotation of ABS Zhejiang was 16450.00 yuan / ton, which was stable compared with Monday. In terms of operating rate, the operating rate remained stable at 91.4% this week. The upstream of ABS fell this week, some materials and goods were tight, the cost side of ABS was still supported, and some materials and goods were tight. However, the downstream procurement enthusiasm was not good, and the merchants operated cautiously.

3、 Later outlook

Pure benzene fell continuously, the periphery lacked support for the market, the port inventory rose, the downstream procurement enthusiasm was not high, the resistance to high prices increased, and the market bad was relatively concentrated. It is expected to be mainly low-level consolidation in the short term. Ethylene is expected to stabilize, while the cost side support of styrene is weakened. In addition, the supply is expected to increase, and the downstream spot demand continues to be weak. Overall, it is expected that there will be more negative aspects of styrene in the short term and will still be weak consolidation. The market needs to pay close attention to the trend of crude oil price.