A brief introduction to the one week market of the

2022-08-14
  • Detail

A brief description of the one week market of China Plastics spot ABS (November 26 - November 30)

this week, China's plastic price index rose and fell alternately. After a week, it rose from 1299.28 at the beginning of the week to 1299.86 on Friday, up 0.58 points from the beginning of the week and 9.64 points from the same period last week. This week, the China Plastics spot index first fell and then rose, with a volatile consolidation from 1254.03 at the beginning of the week to 1256.56 on Friday, up 2.53 points from the beginning of the week and 2.21 points from the same period last week

I. upstream information review:

this week, international crude oil rose and fell again, plummeted from more than $99 per barrel to less than $89 per barrel, plummeted by 9.6% in a week, the largest decline since April 2005. Affected by OPEC's increase in production, the decline in the U.S. consumer confidence index, the increase in physical inventories of crude oil on the New York Mercantile Exchange and the suppression of demand, oil prices have no support base around $100 a barrel, and the day when they break 100 is farther and farther away. As of Friday's close, WTI crude oil was at $88.71/barrel, down $9.47 from last week's price increase letters issued intensively by paper companies this year; Brent crude oil was at $88.26/barrel, down $7.50 from last week

the high domestic styrene inventory and the pressure of subsequent arrival, the declining operating rate of downstream manufacturers, the trouble of capital and the decline of crude oil export will deplete the little confidence left by the cargo merchants. Businesses are in a panic state of mind, and the decline speed is accelerating. The final closing price was yuan/ton. The internal and external markets are obviously upside down, domestic capital is tight, demand is low and inventory is high, and domestic businesses are far away from the external market. On Friday, FOB Korea closed at 1334 5 dollars/ton, down 2.5 dollars; CFR China closed flat at USD/ton. The overall market decline this week was $30/ton. Due to weak market demand in China, the CFR price was $5/ton lower than FOB

II. Review of market timing:

the prices of crude oil and styrene both fell this week. The wait-and-see atmosphere in the domestic ABS market this week was more intense. Under the condition of insufficient support from all parties, the pace was slightly heavy, and the quotation was slightly cloudy. The atmosphere on the floor was light, restrained by weak demand, and the market trading volume was very few. Many manufacturers believe that blindly reducing prices will do more harm than good to the market, and buyers' interest will be even more depressed. This week, markets around the world also look at the face of petrochemical enterprises. In view of the small change in external quotations, the overall supply of goods in the market is not excessive, and the quotations of businesses are temporarily stable, but this move has not led to the involvement of more buyers, and the gloomy atmosphere in some markets is within reach

situation in various regions: this week, the popularity of the East China market is difficult to gather, and the fatigue is obvious, but the mentality of traders is relatively stable, and there is no phenomenon of low-cost selling, mainly because, first, there are not many sources of goods in hand, which are still slowly digesting; Second, the quotation of petrochemical enterprises is stable and the supporting market is stable; Third, the overall social resources are not much, and the supply and demand can still maintain a weak balance. This week, the ABS market in Yuyao plastic city was sluggish, and the market was basically stagnant. In the upstream styrene market, due to relatively sufficient resources, weak desire for travel, breakthroughs in the research and development of new special function key materials, and the difficulty of dawn in the improvement of terminal demand, ABS market participants lack confidence and have a strong wait-and-see mentality. As of Friday, the mainstream price of domestic ABS was yuan/ton, and that of imported ABS was yuan/ton

the South China market is also short of buying gas. The market mentality is relatively fragile, and the price rise is not enough. Prices fell slightly this week, and businesses have a strong wait-and-see mentality, waiting for new trends in manufacturers. Many middlemen have a certain discount in negotiations in order to find a way to settle down. Some prices fell by 50 yuan/ton this week, and some businesses' confidence in the market was significantly weakened. Jihua 0215a in Dongguan market fell slightly to 15100 yuan/ton, Zhenjiang Qimei 757K fell slightly to 15600 yuan/ton, and 707k fell slightly to 15300 yuan/ton. (all prices in South China are tax free)

for petrochemical manufacturers: except for the factory price reduction of Panjin Ethylene this week, most quotations have stabilized. However, from all aspects of the news, some manufacturers still have dark operations and clear and steady actions

III. trend forecast for next week:

the market will enter December next week. It is not ruled out that some manufacturers may make big moves at the beginning of the month, but considering the cost factor, it is estimated that most petrochemical enterprises will first wait and see and carefully quote. However, the terminal demand has declined, and the weak fundamentals are obviously difficult to reverse the decline of the market

note: the reprinted content is indicated with the source. When reprinting and ordering the tensile testing machine, it is necessary to communicate with the manufacturer's technical department in advance for the purpose of transmitting more information, which does not mean that we agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI