[PS Daily Review] Strength on Cost Side Drives Market Steady with Local Increases

1. Today's Summary

2. Spot Overview

Today, the price of GPPS in the East China market remains at 7,500 yuan/ton. The price of styrene, the raw material, is fluctuating upwards, providing strong cost support to the PS market. The supply of goods in the industry is relatively ample, but some sources are following up with price increases. Downstream purchases are mainly based on immediate needs, and market transactions have become more active with rising prices, although overall transactions after the price increase are average.

3. Price Forecast

The styrene market is expected to maintain a relatively strong consolidation trend, with cost support continuing to exist. Market holders are likely to continue to follow up with price increases. However, downstream buying sentiment is lukewarm, focusing primarily on just-in-need purchases. It is anticipated that the PS market will maintain a relatively strong consolidation pattern in the short term.