1、 Price trend

According to the business news agency’s block data list, the average price of domestic hips on April 29 was 12933.33 yuan / ton, up 0.52% from the beginning of the week and 1.89% from the beginning of the month.

2、 Market analysis

Hips market rose first and then fell on the 22nd of this week, mainly affected by the price fluctuation of raw material styrene. At the beginning of the week, styrene continued to rise, with strong cost support, adding part of the PS plant to reduce the burden and output, which helped to boost the price of benzene through and benzene conversion. In the middle of the week, the styrene price callback led to the price loosening of hips, with a small drop. On the 29th, the one-day drop was 0.13%. There was a strong wait-and-see atmosphere in the market, and the trading was flat. By the end of the 29th, the reference price of Ningbo Taihua 8250 was 12900 yuan / ton, up 100 yuan / ton from the beginning of the week, Guangzhou Petrochemical 660 was 13300 yuan / ton, up 100 yuan / ton from the beginning of the week, Zhanjiang Zhongmei 990 was 12600 yuan / ton, flat from the beginning of the week, and the overall market fluctuated little.

product manufactor Brand Price (yuan / ton)

HIPS Ningbo Taihua eight thousand two hundred and fifty twelve thousand and nine hundred

HIPS Guangzhou Petrochemical six hundred and sixty thirteen thousand and three hundred

HIPS Zhanjiang Zhongmei nine hundred and ninety twelve thousand and six hundred

International crude oil market: on April 28, the international oil price rose, and the settlement price of the main contract in the US WTI crude oil futures market was US $63.86/barrel, up US $0.92 or 1.5%. Brent crude oil futures market settlement price of the main contract at 66.78 U.S. dollars / barrel, or 0.91 U.S. dollars or 1.4%, on Wednesday, the U.S. Energy Information Administration (EIA) data showed that the U.S. distillate stocks fell sharply last week, refinery operating rate rose to the highest level in more than a year, boosting the market’s hope for the recovery of fuel demand in the world’s major economies.

On April 28, the reference price of styrene was 9800.00, up 11.79% compared with that on April 1 (8766.67). With the recovery of styrene price, the downstream acceptance of styrene declined, some markets began to resist, the transaction volume decreased, and the terminal demand continued to be weak. Plant restart and new production capacity are expected to suppress styrene rising space.

3、 Future forecast

According to the business community, the rise of raw material styrene was blocked, and the price of hips was lowered, which led to the price loosening of hips. The enthusiasm of downstream stock preparation before the festival was not high, and it still maintained the purchase of just needed goods. Therefore, the demand side support was general. It is expected that hips will be strong in the short term, with a small adjustment.