Price trend

The domestic ABS market fluctuated in the middle of February. According to the data monitoring of the Business News Agency, as of February 20, the average price of the ABS sample products was 11833.33 yuan/ton, up and down by – 2.20% from the average price level at the beginning of the month.

Cause analysis

In terms of raw materials: the overall performance of the upstream three materials of ABS in the near future fell by two and rose by one. Among them, the price of acrylonitrile raw material fell slightly, while the cost side fell slightly; The high starting point in the downstream has just needed support for acrylonitrile, but due to the increase in the listing price of manufacturers in the early stage, the current market is against the high price supply, and it is expected that the acrylonitrile market will consolidate in a narrow range in the short term.

Recently, the butadiene market was boosted by the export and the high guiding price of Sinopec, and the traders’ prices were mainly up. The whole market atmosphere was full of speculation. However, the growth of downstream synthetic rubber is limited, and the demand of the terminal has no obvious signs of improvement. The game between supply and demand is expected that the domestic butadiene market will settle at a high level in the short term.

The styrene market in Shandong is weak recently. In recent days, crude oil fell in the night market, and the cost support was poor. However, at present, the styrene port inventory fell rapidly. It is expected that the short-term styrene market volatility will rise.

On the supply side: the recent high load drop in ABS industry, the narrow decline in plant operation, a slight decrease in weekly production, and abundant supply of goods on the site. The factory continued the early destocking operation, the overall inventory position increased, and the supply side did not support the spot price well.

In terms of demand: downstream factories, including the main terminal appliance industry, have been generally motivated to prepare goods recently. It will take time for manufacturers to digest the inventory before festivals. The overall demand tends to be weak, and the flow of goods in the market is poor.

Aftermarket forecast

In the middle of February, the trend of ABS upstream three materials fluctuated, which generally supported the cost side of ABS. The petrochemical plant started a narrow correction at a high level, and the supply remained at an adequate level. The demand-side support is poor, and the seller has built a warehouse, and the offer follows the market. It is expected that the ABS market will continue to be weak and volatile in the short term.