ABS shock adjustment in mid-July

Price trends:

According to the data of business associations, the price fluctuation of ABS market in China was adjusted in mid-July. As of July 19, ABS mainstream offer price was around 13150.00 yuan/ton, which was 1.13% lower than that at the beginning of the month.

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2. Analysis of influencing factors:

Industry chain: ABS upstream aspects, international crude oil market has recently strengthened, pure benzene has increased substantially, styrene production cost support gradually improved. Downstream enterprises, temporarily maintaining just demand, wait-and-see majority, continue to bear the dual pressure of cost and terminal sales, start-up rate decline more or less, from the overall start-up rate level, still maintain low demand-oriented. The supply and demand deadlock is difficult to break, and the market lacks strong support. In mid-July, demand for acrylonitrile-related production was weak, downstream gas purchases were weakened and turnover was weak. Acrylonitrile merchants’quotations are stable at low and low levels, and the price rebound is weak for the time being. Recently, the external market of butadiene is high, and Sinopec’s internal supply is relatively tight, and the downstream market just needs to remain. On the negative side, synthetic rubber market is weak, start-up load is decreasing, spot supply in the northern market is increasing, and high prices are not good. In addition, the downturn of synthetic rubber market has dragged the butadiene market to a certain extent. However, the tight supply performance in East China and Sinopec, together with the high market, has boosted the mentality of some domestic businessmen. With the reduction of the supply price of export manufacturers, it will stimulate the downstream just need to replenish warehouses, or to some extent, it will inhibit the downstream pace of the market. However, the downstream industrial chain and terminal demand drag down, the butadiene market is also difficult. There is downlink. Upstream rises and falls vary, and support for ABS is limited. ABS shock adjustment in mid-July.

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3. Future market forecast:

Business analysts believe that the ABS offer shocked the whole market in mid-July. Upstream rises and falls vary, downstream demand is flat, there are more empty orders in the market, and merchants’inventory is not high. It is expected that ABS offer will be adjusted steadily and narrowly in the near future.

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