Brief introduction to the one week market of the h

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A brief description of the one week market of China Plastics spot ABS (July 14 - July 18)

this week, China's plastic price index basically fell from 1472.60 at the beginning of the week to 1449.73 on Friday, down 22.87 points from the same period last week. This week, the China Plastics spot index closed at 1408.42 from 1424.85 at the beginning of the week, down 16.43 points from the same period last week

I. upstream information review:

affected by the continuous sharp decline of upstream raw materials such as crude oil and pure benzene, Jiangsu styrene morning market was quiet, buyers withdrew from the market to wait-and-see, and merchants holding goods felt huge losses, holding goods reluctant to sell, and the market only quoted sporadically at 12450 yuan/ton. There are bad rumors in the market from time to time. Affected by the continuous sharp decline of crude oil, the Styrene Market in Asia opened low. FOB Korea, in September, any goods offer us $1620, and the corresponding inquiry is US $1605; The firm offer in August is 1600 US dollars, and the corresponding inquiry is 1550 US dollars, l/c at sight. The goods were reported at US $1630/ton in August yesterday

on Thursday, Asian pure benzene fell again, close to the lowest point of this month, and FOB South Korea closed at 1295 50 US dollars/ton, 1282 in Southeast Asia US $50/ton, down US $21/ton today. Last week, crude oil and naphtha fell sharply for days and the absence of buyers was the main reason for their decline. After three consecutive trading days of decline, the volume of pure benzene sold in September reached $1297/mt FOB. The traders SK energy and BP hope to cooperate with the plastic ban order of Jilin Province. Due to the weak arbitrage transactions in the U.S. harbor region, the inventory of Asian pure benzene has increased since June. According to the statistics of Korean customs, the export volume of Korean pure benzene to the United States in June was only 5717 MT, down 82.8% from the same period of last year, and a sharp drop of 88.6% from the export volume in May. At the same time, Asian merchants still hold a large number of August shipments expected to supply SK energy's demand. However, SK energy itself is also selling, resulting in high inventory and nowhere to deal with. It is reported that SK energy bought at least 9 shipments of pure benzene from the spot market last month, and July shipments. Market news last night said that the two pillars supported by Asian pure benzene - international crude oil and SK energy have been lost. In addition, the Asian market is still digesting the specific operation steps of fixture installation: European SABIC announced the shutdown of No. 2 aromatics unit in Teesside region, but market participants said that it is still too early to talk about its impact because it is still a period of time before the end of the year

II. Market Review:

according to the external market news, the FOB benchmark price of Asian pure benzene in South Korea has fallen for three consecutive trading days since Tuesday, with a total range of $59/ton, and closed at 1295 on Thursday US $50/ton, a monthly low. At present, the overall inventory in Asia is large, and the demand support of the Asian pure benzene Market - international crude oil and sksk energy, the main downstream consumer, is missing. According to statistics, in less than a week, light crude oil futures on the New York Mercantile Exchange plummeted by $18, with the largest cumulative decline in three days in dollars. The three-day cumulative decline in percentage terms was the largest since December 2004. Light crude oil futures in New York fell below $130 a barrel on Thursday, the first time it has fallen below $130 since June 5

there is no market for styrene in South China, and the mainstream negotiation is still stable at 12500 yuan, with delivery price. The local supply is abundant, and the demand is shrinking. It is difficult to improve the market weakness

styrene FOB Korea closed at 1619.50, making it more applicable to enterprises - $1620.50. Affected by the continued weakness of upstream crude oil and pure benzene, it closed down by $17.5/ton, which has been the decline for four consecutive trading days this week; CFR China closed down US $20/ton, subject to the sluggish demand in China, closing down for three consecutive trading days this week. During the trading day, sellers flocked to the market. In terms of supply, although a considerable number of manufacturers plan to stop for maintenance or even advance the parking plan, businesses are still quite afraid of the supply of goods in August and September, resulting in a sharp decline in Thursday's trading day. At the close of the day, the highest counter-offer of any goods in September was in USD/ton FOB South Korea. After the close of the day, the transaction of any goods in 2000 tons in September was in USD 1615/ton FOB South Korea, and the trading parties were SK energy and JJ. CFR China base, Chinese buyers delisted due to high inventory and declining demand. In terms of devices, LG Chem advanced the maintenance time of its SM device with an annual output of 170000 tons in Dashan to the end of August. The original maintenance plan of the manufacturer was in October. The manufacturer explained that it was due to economic reasons. At that time, the manufacturer would stop and replace the catalyst. In the domestic market, the transaction range in Jiangsu is yuan/ton, and the mainstream negotiation in South China is yuan/ton. The delivery price

III. trend forecast for next week:

at present, the market is dominated by negative factors. First, petrochemical enterprises have poor sales, and have reduced factory prices to alleviate inventory pressure; Second, the downstream factories stopped to wait and see, the demand shrank significantly, and the transaction was difficult to turn around; Third, traders' mentality is poor, their enthusiasm for entering the market is low, and they basically focus on shipping; Fourth, the international crude oil and styrene markets fluctuated, and the future trend was uncertain, and the market response to this was flat. It is expected that the recent ABS market may still maintain a steady decline

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