1、 Price trend
According to the monitoring of the bulk data of business agency, the mainstream price of styrene in China this week was weak and fluctuated slightly, falling slightly. On Monday (June 29), the price of sample enterprises of business agency was 5433.33 yuan / ton, while on Friday (July 3), the price of sample enterprises was 5366.67 yuan / ton, a decrease of 1.23%. The price fell by 40.04% compared with the same period last year.
| poly gamma glutamic acid |
2、 Market analysis
This week, the market price of styrene was weak and fluctuated slightly. On June 29, East China styrene closed at 5400-5450 yuan / ton, while on July 3, 5300-5400 yuan / ton, a drop of 50-100 yuan / ton. The above is Zhangjiagang export price. On June 29, South China styrene closed at 5600 yuan / ton, and on July 3, 5600 yuan / ton, stabilized, and the prices of the above factories were delivered.
In terms of raw materials, crude oil prices fell at the end of last week, leading to the price of pure benzene falling all the way, while ethylene prices rose due to the recovery of demand and tight supply. As of Thursday (July 2), the mainstream ethylene price was 777.00 yuan / ton, up 45.25 yuan / ton or 6.18% from 731.75 yuan / ton on Friday (June 26).
As of Thursday (July 2), the mainstream quotation of pure benzene was 3140.00 yuan / ton, down 380 yuan / ton or 10.8% from 3520.00 yuan / ton on Friday (June 26). The price of pure benzene in East China fell rapidly due to the high level of port inventory and forced withdrawal of spot goods. After the festival, although the dealers and manufacturers on the market stood firm and wait-and-see prices, the overall inventory was on the high side, and the pressure of spot delivery of pure benzene was great. The subsequent bearish mentality appeared, and the price of pure benzene went down all the way.
In terms of inventory, the short-term oversupply situation has not changed, and the mainstream inventory is still at a high level. The arrival of styrene in port is stable, the warehouse capacity is tight, and the spot selling pressure is huge. Total inventory in East China this week was 382600 tons, up 1.95% from 375300 tons last week. This week’s arrival is too much, styrene inventory is difficult to go. In terms of domestic styrene, the 200000 tons of Donghao and 300000 tons of Xinyang units were shut down this week, and the domestic supply decreased, but the domestic styrene factory inventory did not fall, but rose slightly.
On the downstream side, the styrene downstream overall stable this week, ABS plummeted, but still maintained considerable production and marketing profits. In the PS market, as of Thursday (July 2), the mainstream ex factory price of PS in East China was 8100 yuan / T, which was stable compared with last Friday (June 26). The tight supply of goods this week has eased, and the market continues to be weak with the lack of positive news to stimulate the market to stabilize and consolidate.
| Poly glutamic acid |
In the EPS market, as of Thursday (July 2), the mainstream ex factory price of EPS in East China was 8100 yuan / ton, which was stable compared with last Friday (June 26). The supply of EPS in South China and East China market was still tight, and the circulation speed of goods in the market slowed down, and the overall wait-and-see mood in the downstream was strong.
In the ABS market, as of Thursday (July 2), the mainstream ex factory quotation of ABS Zhejiang was 13250.00 yuan / ton, down 50 yuan / ton or 0.38% from 13300 yuan / ton on Friday (June 26). This week, the demand for ABS terminal appliances continued to be strong, and the market demand declined. However, the spot supply in some markets was still tight, and the overall inventory was low. It is expected that the price of ABS terminal home appliances will continue to fall in the near future.
3、 Future prospects
Crude oil fluctuated in a narrow range, and the price of pure benzene was already at a low level compared with the previous period, and the rebound intention of bottom reading was large. However, the storage pressure and spot pressure brought unknown to the rebound of pure benzene. While ethylene is running at a high level, the cost support of styrene is still in place, but the styrene inventory is still high, the supply pressure is still on, the downstream demand is good, and the supply and demand of styrene continue to flourish. It is expected that styrene will be dominated by weak shocks next week. The market needs to pay close attention to the trend of crude oil price.
| Polyglutamic acid |