A brief comment on the ABS market of China Plastic

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On January 23, China Plastics warehouse receipt ABS market brief comment

I. brief comment on the market:

on January 22, WTI crude oil price fell by US $0.86/barrel, Asian styrene market closed flat on January 22, FOB South Korea closing price was US $per ton, CFR China closing price was US $per ton

today, ABS warehouse receipts fell again, 1 extending the operation time of the servo valve. At 5:00, the ABS warehouse receipts index closed at 1220.57 points, down 4.48 points from the previous trading day. The total turnover of the whole day was 295 tons, and the order volume increased by 20 tons to 1215 tons. The details of each warehouse receipt are as follows:

ab0703 opened flat, and the intraday (Xiaohong) continued to fluctuate significantly. The opening price was 14960 yuan/ton, with a slight decline. The view from Haitong Securities was that the intraday price fluctuated sharply, with the highest price rising to 14980 yuan/ton, the lowest price falling to 14900 yuan/ton, the closing price being 14915 yuan/ton, and the settlement price being 14922 yuan/ton, down 42 yuan from the previous trading day

ab0704 opened low, and the intraday price fluctuated. The amplitude of the fluctuation decreased slowly, and the price gradually fell. The opening price was 14900 yuan/ton, down 98 yuan. The highest price was 14980 yuan/ton, and the lowest price was 14910 yuan/ton. Before the closing, the price rose slightly to 14935 yuan/ton, and the settlement price was 14919 yuan/ton, down 79 yuan from the previous trading day

II. Fundamental analysis:

today, ABS prices across the country have fallen slightly, and businesses are obviously lack of confidence in the future market. Seeing the air atmosphere increase greatly, the downstream is still dominated by wait-and-see, and market transactions are scarce. It is expected that ABS warehouse receipts will continue to fall in the near future

(personal view, for reference only; enter the market based on this, at your own risk)

source of information: China plastics trading

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