[PS Morning Alert] Short-Term PS Market May Range Narrowly

I. Points of Attention

1 、 10/8: The market remains concerned about the supply risks arising from the instability of the Russia-Ukraine situation, coupled with the continuation of U.S. sanctions on some oil-producing countries, leading to a rise in international oil prices. NYMEX crude oil futures for the November contract rose $0.82 per barrel to $62.55, a month-on-month increase of 1.33%; ICE Brent crude oil futures for the December contract rose $0.80 per barrel to $66.25, a month-on-month increase of 1.22%. China's INE crude oil futures are closed due to the National Day and Mid-Autumn Festival holidays.

Core logic: The raw material styrene is fluctuating and consolidating, but the cost focus remains relatively low.

2. Price List

3. Market Outlook

During the National Day holiday, crude oil prices first fell then rose, consolidating at a low level, while the focus for raw material styrene remained low. The industry supply is relatively abundant, and downstream purchasing has slowed down. In the short term, the PS market might experience narrow fluctuations. It is expected that the price of general-purpose polystyrene in the East China market will be around 7,300-8,400 yuan/ton.

4. Data Calendar