Price trend:

According to the bulk list data of business society, the domestic ABS market fell in mid April, and the spot prices of various brands decreased. As of April 18, the average price of general-purpose ABS mainstream offer was about 14700 yuan / ton, up or down – 1.34% compared with the price level at the beginning of the month.

Factor analysis:

Industrial chain: in terms of raw material styrene, the market price of styrene fluctuated and rose last week. The international crude oil price rebounded sharply, the styrene cost support was good, the port inventory went to the warehouse slightly, the public security incident affected the transportation, the transaction in the spot market was general, and the price fluctuated slightly. Generally speaking, if the raw materials rise next week, the styrene market will follow the rise.

The market of acrylonitrile fell last week. In terms of supply, some enterprises entered maintenance in the early stage, and the on-site spot quantity was reduced. Downstream demand performance is general, superimposed with the impact of health events on transportation, and the ex factory price of spot is under pressure.

Last week, the domestic butadiene market fell deeply, the market supply increased significantly, while the operating rate of downstream industries decreased, the contradiction between supply and demand fundamentals appeared, dragging the market down. After the decline of butadiene, some downstream bargain hunting, maintenance and export news boosted the mentality of some businesses and supported the stop of the decline and shock of butadiene market. However, the operating rate of downstream industries continues to decline, and the market is difficult to rebound for the time being.

In mid April, the overall support of the upstream three materials of ABS cost side was general. In terms of industry load, in the early stage, due to the maintenance of some domestic production lines, the operating rate of ABS enterprises decreased slightly. However, the manufacturer’s mentality is not strong. The reason is that the recent health events in China can not be ignored. The logistics and production in some areas are affected, which suppresses a certain amount of demand. The goods in the field are not smooth, and the offer falls. There has been no substantial progress in the situation between Russia and Ukraine in Eastern Europe. There are great differences in the remote upstream crude oil market, but the price is still high. At present, the main bad news in the market is the shrinking demand caused by the impact of health events on the downstream load.

Future forecast:

Business analysts believe that the spot market of ABS fell in mid April, and the trend of upstream three materials fell more or rose less, which is difficult to form a strong support for the cost side of ABS. Domestic spot supply is temporarily abundant, and the load of ABS enterprises is lower than that in the early stage. However, the demand follow-up contracted due to the impact of transportation, and the flow of goods on site was not smooth. It is expected that the spot market of ABS may continue to be weak in the short term.