The hottest recent PS market trend in May

Recent PS market trend (may)

Asian market

PS price rose last week due to the rising price of styrene monomer. Sellers said that although end users resisted the price rise, they believed that the market would accept it next week. End users believe that the general weakness of excess regional supply and demand will hinder the sharp rise of PS prices. Nevertheless, some end-users replenished their inventories for fear of further price increases, and the purchasing momentum in the Asian market was also stronger. On Wednesday, the sales intention of benzene rose to $650/ton (CFR Hong Kong/China), and further rose to $670/ton (CFR Hong Kong/China) over the weekend, and the seller said that there was a deal with the end user at this price. Although some manufacturers withdrew their quotations and kept the wait-and-see situation unchanged, the sales intention of modified benzene was roughly USD/ton (CFR China). Southeast Asian sellers also raised the quotation of permethene and modified benzene to USD/ton (CFR Southeast Asia) and USD 690/ton (CFR Southeast Asia) respectively. The orders of end-users are still limited, and the bid of several buyers for permethene is still less than 650 US dollars/ton

domestic market

due to the sharp rise of SM, more buyers were attracted to participate. Last week, the domestic PS market prices rose in an all-round way, and the market atmosphere was quite active. At weekends, the main price of GPPS was about Airflow Hood: Φ 75mm × 500mm yuan/ton, up yuan/ton, general hips about yuan/ton, up about yuan/ton. Although domestic PS buying increased significantly last week, many market participants are still cautious about the price trend in June. They believe that user demand is the key to determine the future trend, and generally, it is difficult for the demand to improve in June. In addition, the damage of SARS to downstream industries may not be truly reflected in the later stage, so they expect that the user demand in June is not optimistic. At the same time, they also pointed out that most of the emerging buying orders come from middlemen, who are vulnerable to market news, so we should also observe that the market may repeat at any time when there is already a considerable profit margin for the oil delivery valve. Last week, the spot price of PS in Hong Kong market rose sharply, and the transaction was active. At the weekend, traders quoted about 690 US dollars/ton (CIF Hong Kong) for GPPS and 720 US dollars/ton (CIF Hong Kong) for hips, with an increase of 80 US dollars/ton. Pearl River Delta market: at weekends, the main price of general GPPS is MHH (5). As a kind of precision testing equipment, wood-based panel scratch tester is yuan/ton, and general hips is about yuan/ton. Among the GPPS and hips prices of first-class enterprises, Qimei pg33 is in short supply, and the quotation is as high as 7900 yuan/ton, and ph88h is about 8200 yuan/ton; The quotation of Yangba 158k is about 7100 yuan/ton, and 476l is about 7800 yuan/ton; The quotation of Chevron 3100 is about 7000 yuan/ton, and 6025 is about 7700 yuan/ton. Yuyao Ningbo market: last weekend, the main price of GPPS was about yuan/ton, and that of hips was yuan/ton. The supply of all kinds of goods was in short supply. In GPPS and hips of first-class enterprises, the quotation of Qimei pg33 is between yuan/ton, ph88h is between yuan/ton, Yangba 158k is 7300 yuan/ton, and 476l is about 8000 yuan/ton; The quotation of Chevron 3100 is about 7200 yuan/ton, and 6025 is about 7800 yuan/ton

outlook

as users may continue to replenish inventory this week, and the inventory pressure of manufacturers has been basically released, PS prices are expected to rise steadily this week. However, in the medium term, the situation in June is mixed. On the one hand, the downstream demand situation in June is likely to be not optimistic and the import arrival will increase, but on the other hand, many manufacturers shut down for maintenance in June, so it is expected that the medium-term market will be adjusted at the current price level