The hottest October 20 China Plastics spot ABS mar

2022-08-11
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On October 20, China Plastics spot ABS market brief

China Plastics price index 1003.93 points, China Plastics spot index 903.4 points

I. upstream express:

WTI crude oil on the New York Mercantile Exchange rose $2.00/barrel to $71.85/barrel today, and Brent crude oil rose $3.28/barrel to $69.6/barrel

II. Manufacturer dynamics:

on October 17, Asian styrene closed at 844 5 dollars/ton, down 75 dollars; CFR China price is 879 5 dollars/ton, down 70 dollars. This week, the FOB South Korean price of styrene monomer in Asia fell by 155 US dollars/ton. Due to the continuous decline of spot prices and high production costs, manufacturers cut production of such high molecular materials, which is a typical non crosslinked linear high molecular weight, and the end-user demand is weak in the face of global economic panic. WTI crude oil futures price in November fell to $71.2/barrel, down $11.2/barrel this week. The price of naphtha fell to US $467.75/t CFR Japan, while the price of pure benzene fell by US $144/T to US $664/T FOB South Korea this week. I heard that several transactions have been concluded in the Chinese market, and the letter of credit is still a matter of concern due to the decline in price. The market quotation fell to 880 US dollars/ton CFR on Friday, but the buyer's intention to buy goods in late October/early November was 900 US dollars/ton CFR South China earlier on Friday. The quotation in China's domestic market fell to 7700 yuan/ton, and the inventory in East China fell to 40000 tons, but the market demand is still weak. In terms of devices, South Korea's yncc cut the load of the styrene device in yeochon by 15% this week, with an annual capacity of 285000 tons. South Korea LG Chemical has reduced the load of its two units in Daesan by 30% this week. The annual capacity of No. 1 styrene unit is 170000 tons and that of No. 2 styrene unit is 250000 tons. Taiwan FCFC announced that it plans to shut down the No. 2 styrene plant in Mailiao this week. The company's No. 1 styrene unit began to resume operation in early September. Sinopec Qilu Petrochemical styrene plant with an annual capacity of 200000 tons 11 Displacement range: 10mm start-up, and it is expected to produce qualified products this week

on October 17, European styrene closed at USD/ton, up $36.25. The market counter-offer went up to 1000 US dollars/ton, while the quotation was 1050 US dollars/ton. In the afternoon, the price of goods in October and November is USD/ton FOB Rotterdam. Market participants said that the price of styrene would not be higher than 250 US dollars/ton of pure benzene. Someone studied the relationship between the two. The market price of pure benzene is 725 US dollars/ton CIF ARA, which implies that the counter-offer level of styrene is about 975 US dollars/ton FOB Rotterdam. At the same time, market participants said that total would expand the capacity of styrene plant to 390000 tons, and began to shut down in the fourth quarter of 2008, but the details were unknown

III. local market conditions:

the effect of structural reform on the supply side shows

the actual sales of Zhenjiang Qimei ABS are slightly preferential. Some agents say that the ex factory price of 757K is 15400 yuan/ton. The ex factory price of 707k is 15100 yuan/ton. The recent sales are poor, the overall inventory is high, and the overall operating rate of the device is about 50%

the ex factory price of Ningbo LG Yongxing ABS is temporarily stable, with 121h yuan as the reference ex factory price of 15500 yuan/ton, and the transaction is slightly preferential. Last week, sales were poor and inventories were slightly higher. The operating rate of the unit is%. The price of 121h in East China market is about 15600 yuan/ton

the actual implementation of Changzhou Xinhu ABS sales is a single talk. The external reference price of ac800 is 15200 yuan/ton, the actual transaction price is slightly lower, and the inventory is not much. East China offers about 15500 yuan/ton for ac-800. The operating rate of the device is basically normal

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