1、 Price trend

According to the bulk data list of business society, the average price of domestic hips on July 30 was 12533.33 yuan / ton, flat compared with the beginning of the week and down 0.53% compared with the beginning of the month.

2、 Market analysis

There is no significant change in hips market price this week, and toluidine is also stable. The trading of raw styrene was poor, the price fluctuated and fell, coupled with weak downstream demand and insufficient gas buying, the offer of the cargo holder decreased obviously and steadily, and there was room for negotiation. So far, the mainstream price of hips is mostly in the range of 12300-14800 yuan / ton, and the price of benzene is mostly in the range of 10700-12800 yuan / ton. The overall PS market price fluctuates little, and the market runs light and stable.

In the international crude oil market, on July 29, the international oil price rose significantly. The settlement price of the main contract in the US WTI crude oil futures market was US $73.62/barrel, up US $1.23 or 1.70%, and the settlement price of the main contract in the Brent crude oil futures market was US $75.10/barrel, up US $1.23 or 1.67%. Previously, the decline of U.S. crude oil inventory was higher than expected, and the tight supply boosted the oil price. Some data showed that the U.S. crude oil supply hit the lowest level since January 2020, and the oil price further increased.

In terms of raw materials, on July 30, the market price of styrene was weak. Futures bulls reduced their positions, prices fell and closed down, weighing on today’s spot market. It is expected that the styrene supply will increase in August, and the downstream maintenance units have been restarted one after another. It just needs to recover, but the increment is expected to be limited. At the end of the month, the short-term supply is coming to an end, and the shipment is closed. It is expected that the short-term styrene market will continue to fluctuate and narrow.

3、 Future forecast

The business community believes that the current cost support is general, coupled with light demand in the off-season and insufficient downstream buying, it is expected that the short-term hips market will operate stably and weakly.