The hottest November 7 China Plastics warehouse re

2022-07-23
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On November 7, China Plastics warehouse receipt ABS market brief comment

I. brief comment on the market:

on November 6, the FOB South Korean price of styrene in Asia rose by $7.5/t, the CFR China price rose by $5.5/t, and the WTI crude oil rose by $0.88/barrel

today, the ABS warehouse receipt fell slightly. At 11:00, the ABS warehouse receipt index closed at 1185.07 points, slightly lower than the previous trading day. It raised 0.69 points through guiding fund injection and marketization. The total daily turnover was 70 tons, and the order volume was reduced by 25 tons to 270 tons. The details of each warehouse receipt are as follows:

ab0612 warehouse receipt opened low and went high. The transaction was general. The opening price was 14802 yuan/ton to continuously improve the weak points of quality, down 157 yuan. The intraday price went up and rose to 15050 yuan/ton at the closing. The settlement price was 14946 yuan/ton, down 13 yuan compared with the previous trading day

ab0701 warehouse receipt was generally traded, and the settlement price was 14671 yuan/ton, up 11 yuan from the previous trading day

II. Fundamental analysis:

international crude oil has been rising day by day, and styrene is also close. However, these materials are usually very sensitive to humidity and temperature. The price of domestic materials in the East China market has risen although the ABS market has not improved today. It is expected that the ABS market will rise slightly in the near future

(the sample is broken by the falling weight of personal opinion, which is only for reference; therefore, it will enter the market at its own risk)

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean that it agrees with its views or confirms the authenticity of its content

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