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SunSirs: Weak Trading and Investment & Rising Inventory, China ABS Market is Weak

Increase font size  Decrease font size Date:2023-01-11   Views:33

  At the beginning of January, the domestic ABS market was weak and the price was generally stable. According to the monitoring of the data of SunSirs, the average price on January 6 was 11,750 RMB/ton, which was the same as the average price at the beginning of the month.



  In terms of raw materials: the recent overall performance of ABS upstream three materials is fair. The narrow range of acrylonitrile increased. The cost support of acrylonitrile is temporarily stable last week, and there is no significant increase in downstream demand. In addition, the overall pressure on the supply side of Lihuayi to restart after a short stop still exists. It is expected that the acrylonitrile market will be weak and consolidated in the later stage.



  Recently, the domestic butadiene market rose in a narrow range, and the supply was relatively stable last week. The follow-up of some downstream replenishment demand before the festival boosted the spot market. The external market rose slightly during the week, and the prices of domestic mainstream suppliers were actively raised. At the same time, some manufacturers in Shandong Province bid for goods at a substantial price increase after the holiday, which boosted the market prices and led to a wide jump in succession



  Last week, the mainstream price of styrene in Shandong Province has been revised back. The price of pure benzene fluctuated and the cost support fluctuated. In the early stage, it was driven up by futures, but the downstream operating rate was affected by public health events, and it just needed to purchase to maintain production. It is expected that the short-term styrene market will continue to be weak.



  On the supply side: the load of ABS industry remained high this week, the current plant operation was stable, and the supply of goods on the site continued to be abundant. Due to the supply pressure of enterprises to a certain extent, the inventory position rises and the ex-factory price is under pressure.



  In terms of demand: at present, the downstream factories including the main terminal appliance industry are in order to prepare goods, and the early stage of goods preparation in the field before the festival is basically completed. In the near future, the demand tends to be stable, and the goods are normally transported in the field. Buyers and merchants followed the market and performed steadily.



  At the beginning of January, the trend of ABS upstream three materials was mixed, which supported the cost side of ABS generally. The petrochemical plant started at a high level and the supply was stable. Before the end of the demand period, the stock support was general, the seller's offer was firm, and the market was firm. With the stock tide, China ABS market is expected to be weak in the short term.


 
 
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