A brief introduction to the one week market of the

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A brief introduction to the one week market of China Plastics' spot ABS (3..6)

this week, China Plastics' warehouse receipt market fell all the way, and the later trend is not optimistic. As of the end of this week, China's plastic price index was at 782.40 points, down 18.76 points from the same period last week. The China Plastics spot index closed at 887.96 points, down 5.37 points from the same period last week

I. upstream information:

stocks in Europe, America and Asia fell on Monday, reflecting the obvious global economic downturn. European and American crude oil futures reversed last week's rise and closed down 10%. The high opening of U.S. stocks on Tuesday triggered a rebound after the oil market fell, and European and American crude oil futures closed with a rebound following the rise of U.S. stocks. On Wednesday morning, affected by China's plan to stimulate the economy, international oil prices continued to rise. After the U.S. Department of energy released inventory data, the decline of crude oil inventories stimulated the further rise of international oil prices. Cast iron on Thursday: deformation during tightening. Huang Rongxun needs to spend a lot of energy to communicate and reconcile between customers. There is little profit taking in European and American crude oil futures. American crude oil futures fell below $43 in the intraday, closing down 4%

as of the week ended March 5, the average closing price of New York light oil futures for the first month was $43.11 per barrel, up $2.098 from last week. London Intercontinental Exchange Brent crude oil futures for the first month closed at an average price of $44.404 per barrel, up $1.168 from last week

II. Market conditions:

international market: in March, tight supply, strong demand and rising styrene prices led to an increase in the Asian ABS market this week, with CFR China rising by $27.5/ton to $per ton and CFR Southeast Asia rising by $22.5/ton to $per ton. The delivery price of ABS spot railway transportation in the United States stabilized at cents/pound, and the market showed a slightly stable upward trend. Since the beginning of the year, most downstream enterprises have mainly digested inventory and basically separated from the spot market. However, the spot supply has also declined, and the market supply and demand are basically balanced. This week, the general-purpose ABS price in northwest Europe rose by 10 euros/ton to euros/ton. Suppliers are bullish on the market in March, and there is news that market demand has begun to improve in February

domestic market: Overall, the domestic ABS market atmosphere this week was flat and the offer was stable. At the beginning of this week, the mainstream offer of domestic materials in the East China market was 10150 - oil is a non renewable scarce resource of 10600 yuan/ton, and the mainstream offer of domestic materials in the South China market was yuan/ton, and the transaction atmosphere tends to be flat. Due to the lack of sufficient confidence in the later market, most second-hand merchants have basically ended their preparation, and their intention to buy goods is weak. In the next few days, although the upstream rally was good, the stimulation effect of the news was limited, and the market quotation continued to stabilize. On Wednesday, the mainstream offer of domestic materials in East China market was at yuan/ton, and the mainstream offer of domestic materials in South China market was at yuan/ton. The supply of some materials in East China and South China markets is small, but the offer is basically stable, and there is some resistance to the rise. At the weekend, the price of a few domestic materials in East China was relatively strong due to the lack of supply. Some imports in the South China market are expected to rise slightly, and traders' profits have recovered, but after the price rise, the trading volume has decreased slightly

III. future trend forecast:

recently, the resistance from the downstream market still restricts the development of the domestic ABS market, and the domestic ABS market is almost stable. Although March is the peak season for the production of some end products, the number of downstream orders is still small in the near future from the perspective of the current downstream purchase volume. Although ABS suppliers moderately adjust their supply to cope with the relatively weak market, the subsequent low-cost imports that continue to arrive in Hong Kong are bound to have a certain impact on the market. It is expected that if there is no major positive stimulus, the ABS market will continue to consolidate slightly next week

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