batscratch| Styrene futures: 9265 yuan fell 1.39% after the opening, and downstream demand showed no significant change.

Newsletter summary

The main contract of styrene futures fluctuated downwards on Friday night.Batscratch, closed down 1.Batscratch.39%. Huatai Futures forecasts an increase in EB inflows to Hong Kong. Hongye Futures is concerned about the restraining effect of falling oil prices on the downstream, while products Zhongda Futures consider short-term market or shock consolidation.

Text of news flash

[the main contract of styrene in the domestic futures market closed down 1.39% on Friday night] the main contract of the domestic futures market rose and fell differently on Friday, with the main contract of styrene futures opening at 9265.00 yuan / ton, with intraday low shock running. As of the close, the main force of styrene reached as high as 9269.00 yuan and fell 9076.00 yuan below, a decline of 1.39 percent. Huatai Futures pointed out that the styrene market showed a volatile downward trend, the market performance is weak. During the festival, the inventory of styrene in the two ports of East and South China decreased, and in terms of pure benzene, the port inventory also decreased. However, the start-up of domestic pure benzene is on the low side, the downstream load is low, and the willingness to purchase and pick up pure benzene is not high, which leads to the delayed realization of the port storage expectation of pure benzene in circulation. With the narrowing of phenolone losses, pure benzene processing fees are still recommended to be long on bargain. According to the analysis of Hongye futures, styrene fluctuated again yesterday and fell sharply in the afternoon. Oil prices continued to play a role with a falling effect. Typical regional quotations in the spot market continued to fall by 70 yuan / ton, while night trading continued to weaken. The overall futures price is still in the range of operation after the rise, and it is still a high probability event for the market to build a high operating range. In the short term, pay attention to the restraining effect of the fall in oil prices on the downstream. Products Zhongda (600704) futures said that overnight crude oil upward, boosting aromatics market sentiment. Styrene East China port inventory fell to a low in the same period of nearly five years, only higher than in the same period of 21 years, continuing to boost market sentiment. Downstream EPS, PS profit month-on-month compression, ABS profit repair, three S start still has upside space. The raw material end pure benzene is slightly removed from the stock, the price is at the high level in the same period of nearly five years, and the cost end still has support for styrene. Short-term market or shock consolidation, pay attention to crude oil stabilization.