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Demand Slowly Recovered, and PS price Was Weak

February 9, 2023

Latest company news about Demand Slowly Recovered, and PS price Was Weak

Price trend

According to the monitoring data of SunSirs, the average price of PS common material at the beginning of this week was 9,733 RMB/ton, and the average price of PS common material at the weekend was 9,633 RMB/ton, down 1.03%.

Analysis review

As of February 3, the PS market was weakly down, styrene continued to be weak, merchants' shipments were weak, and the focus of negotiation price moved down. Reference for quotation of mainstream brands without tax: Zhenjiang Qimei PG33 quoted 10,330-10,340 RMB/ton, Taiwan Taihua 5250 quoted 9,100 RMB/ton, Ningbo Taihua 535N quoted 9,090-9,100 RMB/ton, Shanghai SECCO 123P quoted 9,280 RMB/ton, Thai Petrochemical 150 quoted 9,880 RMB/ton, Guangzhou Petrochemical 525 quoted 8,440-8,450 RMB/ton.

The trend of styrene was declining, the market was in a strong wait-and-see mood, coupled with the slow recovery of demand, the shipment volume of merchants was limited. The mainstream price of GPPS in the East China market was 8,950-10,900 RMB/ton, and the mainstream price of HIPS was 9,950-11,000 RMB/ton.

Market outlook

The PS market transaction was light, and some manufacturers maintained their quotations. It is expected that the domestic PS market will operate in a volatile and weaker manner in the short term.

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