Price trend:

According to the bulk list data of business society, the domestic ABS market rose in early March, and the spot prices of various brands increased by a narrow margin. As of March 4, the average price of mainstream offer of general-purpose ABS was about 14250 yuan / ton, with an increase or decrease of + 1.06% compared with the price level at the beginning of the month.

Factor analysis:

Industrial chain: in terms of raw material styrene, the market price of styrene fluctuated and rose this week. International crude oil rose sharply, pure benzene also increased greatly, and the cost side gave strong support to styrene. At present, on the inventory side, the market supply is still abundant, the downstream is expected to maintain rigid demand, and the supply and demand side continues to be deadlocked. Styrene is likely to follow the trend of crude oil. On the whole, if the raw material level is strong or continues to rise next week, the styrene market will continue to consolidate and rise.

Acrylonitrile market warmed up this week. Recently, the cost side support of acrylonitrile has strengthened, and enterprises have raised product prices. However, the shipment of new equipment put into operation in the early stage has impacted the market, and the current inventory of enterprises and midstream merchants is high. Although the cost pressure may reduce the operating rate of a certain industry in the short term, the current stock volume in the floor still narrows the range of this round of rising market.

This week, the domestic butadiene market finished high and upward. Crude oil prices rose sharply during the week, boosting the mentality of businesses; At the same time, the higher prices of crude oil and naphtha affect the cost of butadiene. Businessmen expect that the devices of some personal production enterprises may be reduced in the later stage. In addition, the restart of accident devices in South Korea is delayed, and the supply side news supports the market. In addition, the internal and external prices are strong, and the domestic butadiene market is mainly high in the short term.

3. At the beginning of the year, the prices of three materials in the upstream of ABS rose together, and the cost side support strengthened. In terms of industry load, the operating rate of domestic ABS enterprises is high, the overall supply is high and the prognosis is abundant. The ABS market is still in the high inventory position of enterprises and downstream, which is affected by pressure. However, in early March, the terminal enterprises resumed work and the demand was fully developed, and the market demand was phased and large-scale. Coupled with the tense situation in Eastern Europe, market concerns may affect the stability of petrochemical supply chain. Therefore, the mentality of merchants has been repaired, the willingness to offer a high price has increased, and try to make a high price.

Future forecast:

Business analysts believe that the spot market of ABS rose slightly in early March, and the trend of upstream three materials rose, which has strong support for the cost side of ABS. Domestic spot supply continues to be abundant, and the load of ABS enterprises is at a high level. At present, the downstream demand is phased and large, the on-site trading has warmed up, and the domestic inventory position is being digested. It is expected that the spot market of ABS may still strengthen slightly in the short term.