1、 Price trend

According to the bulk data list of SunSirs, the average price of domestic hips on April 28 was 12400 RMB/ton, down 0.27% and 3.88% year-on-year from 12433.33 RMB/ton at the beginning of the week.

2、 Market analysis

Hips prices fell steadily in April, down 1.06% during the month. TheHIPS market this month was mainly caused by the volatile decline in the price of raw styrene and poor logistics. The market of raw materials rose in the first ten days, and the cost side supported the strong hips price. Under the mentality of buying up but not buying down, the market's enthusiasm for inquiry has improved to a certain extent, but local public health events are still severe. Therefore, the shipment of enterprises is affected by it. The hips price began to decline in the middle of the year, and the negotiation has made concessions. In the latter ten days, as the holidays are approaching, the downstream factories continue to maintain the just need to buy, the transaction atmosphere is weakened, and the offer of cargo holders follows the market. By the end of the weekend, the ex factory price of hips was mostly about 11600-14300 RMB/ton, and the price of GPPS (525) was mostly 10200-11000 RMB/ton. The PS market decreased slightly during the month.

According to the weekly rise and fall from January 31, 2022 to April 21, 2022, domestic PVC rose first and then fell in the cycle, with the largest increase in February and the largest decrease in April.

In the international crude oil market, on April 27, the price of international crude oil futures rose slightly. The settlement price of the main contract of WTI crude oil futures in the United States was US $102.02/barrel, up US $0.32 or 0.31%; The settlement price of the main contract of Brent crude oil futures was US $105.32/barrel, up US $0.33 or 0.31%. The US Energy Information Administration (EIA) report released on Wednesday showed that the growth of US commercial crude oil inventories was less than expected. The market is still dominated by concerns about tight global oil supply in the future.

In terms of raw materials, the spot market of styrene fell slightly on April 27. Affected by public safety incidents, the transportation is not smooth, the market supply is sufficient, the spot transaction continues to weaken, and the Styrene Market in Shandong is weak and lower. The oil price rebounded at night, and styrene is likely to follow the trend of crude oil. It is expected that the styrene market will mainly rise in the short term.

3、 Future forecast

According to the SunSirs, the raw materials fluctuated downward in April. In addition, the market transaction atmosphere was poor, and the HIPS price fell slightly. With the gradual recovery of logistics and the increase of hips production, it is expected that the hips market will have downward expectations.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.