SunSirs: Transaction Recovery, PS Price is Strong in China

https://www.chemnet.com   Aug 08,2022 SunSirs

1. Price trend

According to the monitoring data of SunSirs, the average price of PS ordinary materials at the beginning of last week was 11,283 RMB/ ton, and the average price of PS ordinary materials at the weekend was 11,616 RMB/ ton, with an increase of 2.95% and 5.93% over the same period of the year.

2. Market analysis

At present, the PS market is rising slightly. Zhenjiang Qimei PG33 is reported to be 10,240 RMB/ ton, Taiwan Taihua 5250 is reported to be 11,800 RMB/ ton, Ningbo Taihua 535N is reported to be 10,150 RMB/ ton, and Shanghai Secco 123P is reported to be 10,070 RMB/ ton. The crude oil continues to decline, the styrene market is weakening at the same time, the business mentality is not good, and some of them may maintain a small margin of profit. However, it is difficult to ease the shortage of materials and goods for the time being.Last week, the average operating rate of domestic PS was about 62%. Huizhou Renxin opened an additional benzene penetration line on August 1, and the three penetration production lines. CITIC Guoan stopped the whole line on August 2; Anhui Haoyuan low load production. The downstream demand of PS maintains a weak trend, and it is difficult for the market to have a large volume of transactions. In addition, the impact of low-price offers, the merchants may still sell at a small margin.

3. Market forecast

It is expected that the short-term China domestic PS market will be soft. The mainstream price of GPPS in East China market is 10,400-11,400 RMB/ ton, and the mainstream price of hips (polystyrene) is 10,750-12,300 RMB/ ton.

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