Market Overview
Boosted by costs, most EPS manufacturers reported an increase of 100-300 yuan / ton. Up to now, the mainstream ex factory price of common material cash of enterprises in Jiangsu Province is 9000-9100 yuan / ton; that of enterprises in South China is 9400-9600 yuan / ton; that of Shandong Province is 8900-9000 yuan / ton. The actual transaction is mainly based on a single negotiation, some of which are slightly lower.
Market trading center of gravity moves up, trading atmosphere is general. Small and medium-sized buyers stick to the rigid demand, the release of speculative use is limited, and most of them are gradually resistant to high prices. Traders follow the market, the game mood temporarily not high, confused about the future market, trading more flexible and cautious.
3. Introduction of upstream market
Crude oil: worried about new prevention and control measures related to public health events in Europe and the United States to curb demand, international oil prices plummeted by more than 4% in the Asian trading session, while Brent crude oil futures fell by more than 6% at one time. However, the market expected that OPEC and its allies of production reduction would postpone the plan to increase production, and the US market was uncertain, so the international oil price fell to rise during the floor trading period. WTI settlement rose $1.02/barrel to $36.81/barrel on Monday (November 2), while Brent settlement price rose $1.03/barrel to $38.97/barrel. Sc2101 fell 3 yuan / barrel to 233.6 yuan / barrel.
Styrene: today, Jiangsu styrene market is mainly sorted out. Disk reduction loose, spot and paper goods to wait and see. However, the price performance of spot was relatively firm, and the basis was further strengthened. To the end of the day, some buyers passively follow-up, prices slightly higher. According to the comprehensive evaluation, the spot price of Jiangsu styrene market is estimated at 7300-7370 yuan / ton, up 45 yuan / ton compared with the previous trading day. In November, it is estimated at 7300-7390 yuan / ton. In December, it is estimated at 7000-7100 yuan / ton.
4. Future forecast
The rise in the upstream slowed down, but remained high volatility. The trading activity of EPS market was flat, but the spot supply continued to be tight, and the intention of selling price was strong. The short-term EPS price will be mainly strong consolidation.