I. price trend:
According to the data of the bulk list of business agencies, the spot price of ABS was stable in mid November, and the domestic market rose steadily last week. As of November 22, the main offer price of general-purpose ABS was about 13000.00 yuan / ton, basically the same as last week.
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II. Analysis of influencing factors:
Industry chain: in all upstream aspects of ABS, the market price of styrene continued to be weak this week, and the price was slightly reduced. In terms of inventory, port inventory remained high, supply of imported goods hit domestic supply, and styrene cash flow was significantly compressed. Businesses are active in shipping, let the profit go. But the market bearish sentiment spread, the downstream procurement follow-up was weak, and trading was blocked. The whole styrene market lacks strong support point, and it is expected that the price of styrene will continue the whole trend in the near future;
The stock market of acrylonitrile related products is weak in the near future. In terms of supply, we have kept a balance, and the mentality of the industry is relatively weak. This week, traders made cautious offers and made more trades with lower profits. Downstream bearish mood is obvious, factory replenishment enthusiasm is general, maintain just need to purchase. It is expected that the domestic acrylonitrile quotation will continue to narrow range finishing in the near future;
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The domestic butadiene market is currently volatile. Last week, the positive supply side began to disappear, the supply of more goods in the yard began to improve, affecting the mentality of the industry, and some of the offers fell. Downstream factories have serious wait-and-see atmosphere and low enthusiasm for inquiry. It is expected that butadiene market will continue to be weak in the near future;
3. Future forecast:
Business analysts believe that the ABS market is mainly stable in mid November, with some brands slightly adjusted. Cost of the three upstream materials market is weak, poor support for cost. The operation space of traders is limited, the downstream factories just need to purchase, and the on-site trading is general. It is expected that ABS in China will continue to adjust and operate in a stable, medium and narrow range in the near future. It is suggested to pay close attention to cost and logistics.
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