Price trend:

According to the bulk list data of business society, the domestic ABS market stabilized in mid November, and the spot prices of various brands rose and fell. As of November 18, the average price of mainstream offer of general-purpose ABS was about 16450 yuan / ton, up or down – 5.73% compared with the price level at the beginning of the month.

Factor analysis:

Industrial chain: upstream styrene continued to decline, ethylene fell, and cost support temporarily weakened. Supply is expected to increase, mainstream port inventory is expected to decrease, port inventory is also expected to increase, while downstream demand is weak. Some enterprises reflect that terminal demand is weakened, and sales and raw material procurement operations are weakened. It is expected that the styrene market will still be weak in the short term, and the cost side will tend to form a bottom support.

The price of acrylonitrile continued to operate weakly and stably this week. The upstream raw material market was general, the supply and demand in the market were balanced, the operators were mostly bearish, the merchants’ mentality was loose, and the offer was weakly stable.

Recently, the domestic butadiene market stabilized after falling. Downstream enquiries are depressed, middlemen have limited intention to offer actively, the prices of mainstream suppliers are reduced, the market is mainly cautious and wait-and-see, and the actual single negotiation is weak.

The upstream market fluctuated, and the cost side support of ABS was general. In terms of operating rate, there was the resumption of parking and maintenance equipment in the early stage. In addition, the overall operating level of the polymerization plant was high recently, and the increase of output was bad for the spot price of ABS. At present, the double limit and other environmental protection policies still affect the start-up of enterprises, and the shipping resistance of merchants increases. However, some brands of products are out of stock, and the offer stabilizes.

Future forecast:

Business analysts believe that the spot market of ABS stabilized after falling in mid November, and the trend of the three upstream materials fluctuated, which generally contributed to ABS. The domestic spot price is weak due to the gradual weakening of demand. Individual short models in the market hold up the offer, and the overall market is still weak. It is expected that the ABS spot market may still adjust downward in the short term.