1、 Price trend
According to the business news agency’s block data list, the average price of domestic hips on June 11 was 12700 yuan / ton, down 1.8% from the beginning of the week, 4.03% from the beginning of the month, and 9.29% from the beginning of the month.
2、 Market analysis
This week, the price of hips market continued to weaken and the center of gravity moved down. Recently, raw material styrene has been running weakly, and the cost support has gradually declined. In addition, the downstream demand has not improved, and there is still a need to purchase just before the festival, and there is no obvious large-scale volume. The shippers are looking for the good by reducing the price and shipping. However, the overall trading atmosphere of the market is relatively light, which leads to the downward adjustment of hips price and the downward trend of GPPS price. On the whole, the PS market is running weakly. Up to now, the mainstream price of hips is around 12300-13400 yuan / ton, the reference price of Guangzhou Petrochemical 660 is 12400 yuan / ton, the reference price of Zhanjiang Zhongmei 990 is 12300 yuan / ton, the reference price of Shanghai Secco 622 is 13400 yuan / ton, and the reference price of CITIC Guoan 688 is 13000 yuan / ton.
In the international crude oil market, on June 10, the international oil price rose. The settlement price of the main contract in the US WTI crude oil futures market was US $70.29/barrel, up 0.33 US dollars or 0.5%. Brent crude oil futures market settlement price of the main contract at 72.52 U.S. dollars / barrel, or 0.30 U.S. dollars or 0.4%. The US economic data released on Thursday showed positive results. The number of unemployed Americans in the United States dropped to the lowest level since the first wave of COVID-19 last year. The confidence of the market in anticipation of economic recovery boosted oil prices.
In terms of raw materials, the Styrene Market in North China continued to fall on June 11. Qingdao refinery and Qilu Petrochemical quoted 8950 yuan / ton today. On the cost side, crude oil continued to be strong, and the price of pure benzene fell. The maintenance unit of pure benzene has been restarted, and the supply has rebounded, but the low inventory level will continue, and the gap between supply and demand will remain. In the short term, the price of pure benzene and pure benzene is relatively strong. At present, the futures and spot price of styrene has fallen to near the cash flow, and the cost side has become the main support point. Styrene is expected to weaken in the short term. We still need to pay attention to the trend of crude oil and pure benzene, plant dynamics and downstream demand changes.
3、 Future forecast
According to the business news agency, recently, the support of the cost side has gradually declined. Just before the Dragon Boat Festival, the downstream still needs to purchase, and there is no obvious large volume. The cost and demand are both weak, and the shippers give up profits to ship. It is expected that the hips market will be hard to find in the short term, or it may be further reduced.
| PVA |