1、 Price trend

According to the bulk data monitoring of business society, the mainstream price of styrene in China fell first and then rose this week. On Monday (December 20), the price of sample enterprises of business society was 8100.00 yuan / ton, and on Friday (December 24), the price of sample enterprises was 8125.00 tons, an increase of 0.31%. The price increased by 23.73% over the same period last year.

2、 Market analysis

The market price of styrene fell first and then rose this week. On December 20, East China styrene closed at about 8050-8100 yuan / ton. On December 24, it was 8050-8200 yuan / ton, up by about 100 yuan / ton. The above is the tank export price of Zhangjiagang. On December 20, South China styrene closed at 8300-8350 yuan / ton. On December 24, it was 8250-8300 yuan / ton, down 50 yuan / ton. The delivery price of the above factories. Generally speaking, styrene showed a decline first and then rise this week.

In terms of raw materials, crude oil rebounded after falling during the week, and the macro performance was acceptable. In terms of pure benzene, the price of pure benzene fell first and then rebounded, following the trend of styrene. As of Friday (December 24), the mainstream quotation of pure benzene was 6630.00 yuan / ton, down 10 yuan / ton from 6620.00 yuan / ton on Monday (December 20), a decrease of 0.15%. The port inventory of pure benzene continued to rise this week, the market was cautious about the future market, and the overall trading was light. The price of pure benzene mainly fluctuated with the rise and fall of crude oil and styrene. In terms of operating rate, the operating load rate of styrene this week was 76.38%, down 1.05 percentage points from last week. There was no new shutdown this week. Three restart units were added, namely Yanchang refining and chemical, Baling Petrochemical and Shandong Yuhuang. Seven units were still in shutdown. The overall capacity was slightly lower than that of last week, and the wharf inventory showed obvious destocking due to the increase of pick-up. The output of styrene this week is 232500 tons, and the output next week is estimated to be 249600 tons.

Downstream, the downstream price of styrene fell as a whole this week. In the PS market, as of Friday (December 24), the mainstream ex factory quotation of PS in East China was 10100.00 yuan / ton, which was stable compared with Monday. This week, the operating rate of PS industry was 79.50%, with a month on month increase of 1.32% and a year-on-year increase of 13.23%. CITIC Guoan increased to 5 penetration and 2 modification, the load of Yuhuang and Lanhua plant increased, and one 100000 ton production line of Ningbo Liwan has been produced. During the week, the market had a phased large volume, the overall transaction situation was lower than that of last week, and the inventory also increased slightly.

EPS market, EPS market callback and consolidation this week. As of Friday (December 24), the mainstream ex factory quotation of EPS in East China was 9825.00 yuan / ton, down 175 yuan / ton or 1.75% from 10000.00 yuan / ton on Monday (December 20). Benzene, pure benzene and styrene fell slightly. In addition, due to insufficient follow-up of terminal demand, most operators were cautious, the on-site supply circulation was slow, EPS sales were under pressure, and the price fell slightly.

The market price of ABS continued to decline. As of Friday (December 24), the mainstream ex factory quotation of ABS in Zhejiang was 15150.00 yuan / ton, down 350 yuan / ton or 2.26% from 15500.00 yuan / ton on Monday (December 20). Domestic ABS terminal demand is general. Home appliance plants are expected to enter the holiday ahead of schedule this year. In addition, the operating load of petrochemical plants continues to be high, the supply does not decrease, and the bearish mood in the field is strong. Prices continue to fall this week.

3、 Later outlook

Pure benzene follows the price trend of styrene, and the cost of styrene has not changed significantly. This week’s port inventory showed a significant destocking performance due to the increase of pick-up, so whether the wharf can arrive at the ship smoothly has become the main factor for the smooth progress of market pressure from the weekend to the beginning of next week. However, styrene has entered the stage of new plant investment or restart communication, and the spot demand in the off-season is weak. Superimposed with the bad futures such as the Northern Winter Olympic Games, the bad has been stored and the good has not been realized, It is expected that the styrene market may fluctuate and callback next week.