ABS Weekly Roundup (August 16-20)

First, the market review this week, the international crude oil prices turbulence trend, always consolidate around 75 dollars. Asian styrene closing prices have not been affected by crude oil lows, but have risen instead. As of the weekend Asian styrene rose $17/ton. The domestic ABS ex-factory prices remained stable this week. In terms of market prices, the markets of East China and South China this week were in a narrow range of fluctuations, forming a situation of rising and falling coexistence. The business mentality gradually stabilized, the market demand was slightly sluggish, and transactions remained weak.
Second, the upstream dynamic
1. Styrene Price Asian Styrene Market Quotation Unit: USD/Ton Regional Price Type Aug. 19, August 19 Change Note China's main port CFR 1089-1091 1106-1108 +17 South Korea's main port FOB 1064-1066 1081- 1083 +17
2. Crude Oil Prices International Crude Oil Close Prices Unit: USD/Bucket Area August 16th, August 19 Change Remarks New York 75.24 74.43 -0.81 London 74.85 75.30 +0.45
Third, manufacturers dynamic ABS domestic petrochemical ex-factory price brand August 16 August 20 ups and downs Jilin Petrochemical 0215A 16300 16300 0 Lanzhou Petrochemical 301 16300 16300 0 Daqing Petrochemical 750A 16300 16300 0 Xinhu Petrochemical AC-800 16400 16400 0 Ningbo Taiwan AG15A1 16400 16400 0 LG Hi-HI HI-121H 16000 16800 0 Zhenjiang Guoheng D-180 16800 16800 0 Zhenjiang Chi Mei PA-757K 16800 16800 0 Zhenjiang Chi Mei PA-707K 16600 16600 0 Zhongyou South China 0215A 16500 16500 0 Zhongyou North China 0215A 16400 16400 0 Zhonghua East China 0215A 16500 16500 0 Zhongyou Southwest 0215A 16550 16500 0
Fourth, market dynamics
1. Market Price Domestic ABS Market Price Unit: Yuan/Ton Area Price Type Aug. 20, August 20th Change Note South China Market Price 15700-15900 15650-15850 -100 Excluded Tax Price East China Market Price 16300-16800 16450- 16900 +150 2. Market Conditions South China Market: The ABS market price in South China remained stable and stable throughout the week. The business mentality is stable, and there is less supply in the market, and the transaction is generally general. Until 0215A Friday quoted 15,800 yuan / ton, 750A reported 15,850 yuan / ton, 707K reported 15,700 yuan / ton, 757K reported 15,850 yuan / ton, 121H reported 15,850 yuan / ton, the above quotes do not include tax.
East China Market: The prices of the ABS market in East China remained generally stable, and some manufacturers slightly adjusted their prices. There was no significant change in downstream demand, and the market was low buying momentum. Businesses continued to adopt a wait-and-see attitude. Until Friday, the price of Kyrgyzstan 0215A to 16,900 yuan / ton, Daqing Petrochemical 750A to 16,800 yuan / ton, Zhenjiang Chi Mei PA-757K reported 16,800 yuan / ton, Ningbo, Taiwan AG15A1 price in 16,700 yuan / ton, the above quotes include tax.

V. Analysis of Influencing Factors and Forecasts This week, Asia's styrene production has provided some support for the smooth operation of the ABS market. In addition, the tight supply of goods in the market and the lack of confidence in the market outlook of the merchants caused the buyers and sellers to be cautious in their operations and the transactions were bleak. Market sentiment is still not boosted strongly. From this point of view, it is expected that the ABS market will have no good support in the short-term and continue to focus on consolidation.