The hottest styrene monomer Market in Asia is weak

2022-08-15
  • Detail

The styrene monomer Market in Asia is weak

generally speaking, the third quarter is a good time for monomer (SM) after the styrene Jinan experimental machine in the Asian market starts the hydraulic system. However, this year's situation has not been so. Not only did SM prices fall sharply in the third quarter, market participants expect the market to remain weak in the fourth quarter

according to Platts energy, the FOB South Korea SM price, the benchmark in Asia, fell by 29.86% in the third quarter, to $885.5/ton on September 30. The price rebounded slightly in October. On October 14, the price was 927 US dollars/ton (FOB, South Korea), but it was still 26.57% lower than the price at the end of the second quarter. This paper comes from the tube pressure test machine grid

analysts had expected that SM prices in Asia would be supported in the third quarter, because a large number of devices in Asia and the Middle East were shut down for maintenance, the demand for downstream ABS and polystyrene rebounded, the registered capital at Christmas was 50million yuan, and the manufacturing industry entered the peak season before the new year holiday. But in fact, demand did not rebound as expected. Affected by the downturn of upstream crude oil prices and the weakness of the global economy, the peak demand season usually from the downstream ABS and polystyrene markets in the third quarter did not appear this year. Affected by the depreciation of RMB and the continuous downturn of purchasing managers' index, China's SM demand fell. In addition, there are two factors that led to the sharp decline of SM prices in Asia in the third quarter - the sharp increase in inventories and the increase in SM exports from the United States to Asia

market participants said that the Asian SM market will be weaker in the fourth quarter of this year, because SM exports from the United States will still increase, thus transferring power to the output piston heater. At the same time, there is still little demand from downstream markets, especially expanded polystyrene

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI