A brief comment on the ABS market of China Plastic

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On January 26, China Plastics warehouse receipt ABS market brief comment

I. brief comment on the market:

on January 25, Asia styrene FOB South Korea and CFR China prices rose by $27.5/ton, and WTI crude oil fell by $1.14/barrel

ABS warehouse receipts rose slightly today. At 15:00, the ABS warehouse receipts index closed at 1226.06 points, up 0.64 points from the previous trading day. The total daily turnover is 200 tons, and the order volume is reduced by 20 tons to 1315 tons. The specific conditions of each warehouse receipt are as follows:

ab0703 warehouse receipt opened slightly lower. In the early stage, the intraday price rose, turned down to rise, and then fell slightly. The opening price was 14960 yuan/ton, down 36 yuan. The intraday price rose rapidly, up to 15020 yuan/ton. At the close, the price fell back to 15000 yuan/ton, and the settlement price was 15000 yuan/ton, up 4 yuan from the previous trading day

ab0704 warehouse receipts opened slightly higher, intraday prices fell, and rose again at the close. The opening price was 15000 yuan/ton, with a slight increase of 28 yuan. The intraday price gradually fell to 14960 yuan/ton, and the closing price rose to 15010 yuan/ton, with a settlement price of 14985 yuan/ton, up 13 yuan from the previous trading day

ab0705 warehouse receipt due to its short listing, there were not many transactions. The opening price was 14900 yuan/ton until the closing, and the settlement price was 14900 yuan. Low frequency fatigue testing machine: the frequency was lower than 30hz/ton, down 20 yuan from the previous trading day

II. Fundamental analysis:

crude oil fell sharply, styrene monomer rose sharply, bad and good news showed each other, and ABS trend adjusted in a narrow range. In terms of spot goods, the ex factory price of ABS domestic petrochemicals has stabilized, the spot market prices around the country have been slightly adjusted, and the market inquiry has increased slightly, but the enthusiasm of the downstream is not high. It is expected that the recent ABS market may continue to stabilize

(personal view, for reference only; enter the market based on this, at your own risk)

source of information: China plastics trading

note: the failure and damage of glass pipes in this reprint is also becoming more and more serious. With the development of plastic recycled particles industry, the source is indicated. Reprint is for the purpose of transmitting more information, and does not mean to agree with its view or confirm the authenticity of its content

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