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China Plastics information ABS one week market brief (December 14 - December 18)

as of the end of this week, China Plastics price index closed at 1025.56 points, up 16.74 points from last Friday. The China Plastics spot index closed at 1078.16 points, up 6.76 points from last Friday

I. upstream information:

this week, the international crude oil price first fell and then rose. At the beginning of the week, affected by the strength of the US dollar index, the international oil price continued to fall for nine consecutive trading days after last week's decline, once breaking through the US $70 point. It can also be used as an experimental level for the compressive strength of other non-metallic materials. On Tuesday and Wednesday, the international oil price rebounded technically due to the positive impact of the reduction of crude oil inventory and supply. As of Thursday (December 17), the settlement price of West Texas light oil futures in January on the New York Mercantile Exchange was $72.65 a barrel, up $2.11 from last week; Brent crude oil settled at $73.37 a barrel in January, up $1.51 from last week

II. Market conditions:

the offer of petrochemical manufacturers was basically stable this week. On Wednesday, the ex warehouse price of CNPC North China ABS was raised by 200 yuan/ton, and the price of 0215a Tianjin warehouse was raised to 1330. LANXESS, a German special chemical company, recently announced that it would replace metal materials with reinforced nylon 66 to manufacture the air filtration system of commercial vehicles by 0 yuan/ton. On Thursday, the ex warehouse price of CNPC northeast ABS was raised by 200 yuan/ton to 13200 yuan/ton. The mainstream ex factory offers of Jiangsu and Zhejiang ABS manufacturers continued to stabilize at RMB yuan/ton

at the beginning of the week, some offers in the domestic ABS market were slightly loose and some declined by about RMB yuan/ton due to the continuous decline of oil prices and the flat overall atmosphere of the plastic market. The mainstream offer of domestic materials is up to yuan/ton. Due to the obvious resistance of end users to high prices, some materials are difficult to clinch a deal. Most of the buying is still wait-and-see, and the entry intention is light. On Wednesday, the oil price rebounded, and the ABS market atmosphere improved. The mainstream offer in the East China market continued to stabilize, with weak transactions, and some businesses tended to lock out profits. The low-end offer in the South China market rose by about 50 yuan/ton, the transaction was average, and the mentality of the operators was generally stable. Near the weekend, the market pattern was stable, with the range controlled at yuan/ton, and the mainstream offer of domestic materials was yuan/ton. The upstream unit rose significantly, the confidence of the industry was greatly boosted, and the offer was generally higher, but the action of the end users was slightly slow, and the overall trading atmosphere was slightly slow to warm up. As of Friday, the latest mainstream quotation of domestic ABS in Yuyao plastic city was yuan/ton

III. future trend forecast:

this week, affected by the rebound of crude oil and the positive overall market shaping atmosphere, the domestic ABS market rose slightly, and the trading atmosphere improved compared with the previous period. However, at present, the demand of downstream factories is stable, the overall operation of small and medium-sized downstream users is not high, and the purchase is quite cautious. Whether the transaction can continue to expand remains to be seen. As the three upstream raw materials have been rising recently, the market generally believes that ABS petrochemical manufacturers' intention to raise prices still exists, so the new offer of suppliers may still rise next week. Whether the market can follow up in time depends on the digestion ability of downstream users. It is expected that the market will rise slightly in the later period

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