1.Price Trend
According to a large number of data on the list of SunSirs, the ABS market stalled in mid October and the domestic spot price was adjusted. As of October 22, the main offer price of general-purpose ABS is about RMB 13600.00 yuan / ton.
2.Cause analysis
Industry chain: in all upstream aspects of ABS, the market price of styrene fell sharply after the festival. On site supply was abundant, oil market fell sharply linked with styrene fell. The demand side did not improve, the downstream remained low demand, and the recovery demand increased slowly, which was lower than the expectation of businesses. Some of the early-stage maintenance devices are coming to an end, the supply of domestic goods is increasing, and the inventory picking up in the section is poor. In addition, a large amount of imported styrene arrived at the port in the early days of the national day, resulting in high styrene port inventory after the festival. In recent years, the cost price of styrene has declined slightly, and domestic enterprises have kept the profit space. After the quotation of domestic enterprises has been lowered, they have basically stabilized temporarily. Most of them are waiting to be tested. The traditional mentality of "buy up, don't buy down" has affected the market and entered the short-term buyer's market.
Recently, a large number of acrylonitrile related large-scale factories supply to the outside world, and some production traders follow the decline, adding to the bearish sentiment in the market. This week, the decline of acrylonitrile is large. In addition to the north, the production and sales of all manufacturers were generally smooth, and then Sinopec's sales companies released a good price signal, and the spot market sentiment was restrained and controlled. The downstream operators are cautious in mentality, have low enthusiasm for replenishment, and maintain rigid demand strategy.
The domestic butadiene market fell sharply, the northern spot supply was abundant, and the downstream mentality continued to be short, which led to the depressed market inquiry atmosphere. In addition, the external offer market was weak due to the pressure of ocean shipping, dragging the domestic butadiene spot market gravity downward continuously, and the prices of foreign manufacturers and SINOCHEM were frequently lowered, leading to a sharp decline in the market. Until October 17, the price of northeast manufacturers dropped to about RMB 9500-9600 yuan / ton, and the downstream stage just needed to bargain and make up the position, the market turnover improved, and the atmosphere slightly changed. However, the price of synthetic rubber continues to decline, the butadiene market in the north is relatively abundant, and some businesses are still cautious. In terms of price, the price of superior products delivered in Shandong is RMB 10100-10200 yuan / ton, and that in East China is RMB 10400-10500 yuan / ton, all of which are more than RMB 1000 yuan lower than last week.
3.Future Market Forecast
SunSirs analysts believe that: in mid October, the ABS market consolidation market, the spot prices of various brands are up and down. The upstream three materials market is negative, which has poor support for the cost side. Downstream demand is flat, buy up do not buy down. At present, there is no good news on the site, traders give way to profits, and petrochemical enterprises offer to reduce. It is expected that the domestic ABS market will continue to be weak in the near future.
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