According to the Commodity Market Analysis System of SunSirs, the average price of PS at the beginning of this week was 9,633 RMB/ton, and the average price of PS at the weekend was 9,600 RMB/ton. The price decreased slightly by 0.35%, and a decrease of 9.58% compared to the same period last year.
Analysis review
The PS market was weak and slightly declining, merchants were offering small discounts and shipping, and the market's fatigue was hard to conceal. Mainstream brand price excluding tax reference quotation: Zhenjiang Qimei PG33 quoted 9,590-9,700 RMB/ton, Taiwan Taihua 5250 quoted 9,900 RMB/ton, Shanghai SECCO 123P quoted 9,330 RMB/ton, Thai Petrochemical 150 quoted 8,840 RMB/ton, Guangzhou Petrochemical 525 quoted 8,580-8,600 RMB/ton, Hong Kong Petrochemical 1841H quoted 8,420 RMB/ton.
Crude oil continued to decline, PS petrochemical manufacturers lowered their prices, and their buying enthusiasm was not high. The pressure on merchants to ship was not decreasing, and there was still profit-cutting in actual negotiations. The mainstream price of GPPS (polyphenylene sulfide) in the East China market was between 8,850 and 10,300 RMB/ton, while the mainstream price of HIPS (polystyrene) was between 9,330 and 10,600 RMB/ton.
Market outlook
The PS market has light trading volume and urgently needs positive support. It is expected that in the short term, the domestic PS (polystyrene) price may mainly fluctuate in a narrow range.
