1. Market Price
China EPS General Materials Ex-Factory Price
Unit: RMB/mt
|
|
E-China
|
S-China
|
N-China
|
|
Apr 20
|
9,250-9,500
|
9,500-9,800
|
9,250-9,500
|
|
Apr 27
|
9,000-9,250
|
9,300-9,500
|
9,000-9,250
|
|
Weekly change
|
-250/-250
|
-200/-300
|
-250/-250
|
|
Change rate
|
-2.70%/-2.63%
|
-2.11%/-3.06%
|
-2.70%/-2.63%
|
2. Market Review
China’s
EPS market prices fluctuate downward this week. First, the styrene price moved
down, dragging down the cost. Second, small and medium-sized downstream
enterprises mainly purchased on a need-to basis, and market transactions were
limited. Third, a couple of traders faced inventory pressure amid ample spot
supply. Traders operated agilely and replenished inventory cautiously to avoid
risks.
Up
to April 27, the prevailing EXW price for general materials in Jiangsu was RMB
9,000-9,250/mt in cash. The low-end price dropped by RMB 250/mt or 2.70% W-O-W,
and the high-end price decreased by RMB 250/mt or 2.63% W-O-W.
3. Market Forecast
SCI
reckons that EPS prices will fluctuate downward next
week. It is expected that the prevailing EXW prices for
general materials in Jiangsu will be RMB 8,800-9,800/mt next week. First, the
styrene price may move downward, giving cost support to the EPS price. Second,
the increment in demand from downstream industries may be slow and fail to meet
expectations. Third, some traders are expected to face inventory pressure amid
ample supply. Moreover, players should pay attention to the changes in
international crude oil prices and the commodity market.