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[PS Morning Briefing] Short-Term PS Market May Continue to Focus on Price Reduction and Sales

Longzhong 2025-08-29 08:48:51

I. Key Points

1 、 8/28: The instability of the Russia-Ukraine situation persists, coupled with the continued positive impact of the traditional peak season for fuel consumption in the United States, leading to a rise in international oil prices. The NYMEX crude oil futures October contract rose by $0.45 per barrel to $64.60, a month-on-month increase of 0.70%. The ICE Brent oil futures October contract rose by $0.57 per barrel to $68.62, a month-on-month increase of 0.84%. China's INE crude oil futures September 2025 contract fell by 5.3 to 481.1 yuan per barrel, but rose by 5.5 to 486.6 yuan per barrel in the night session.

Core logic: The raw material styrene continues to decline, weakening the cost support.

2. Price List Form

Product	Region	8-27	8-28	Rise and Fall
Brent	--	68.05	68.62	0.57
Styrene	Jiangsu	7240	7185	-55
Styrene	Guangdong	7320	7280	-40
PS	East China	7700	7670	-30
Note: 1 Brent is in USD/barrel, while styrene and PS are in RMB, unit: yuan/ton. 2 Select Green Anqing Peak 525 with PS. 3 The above RMB prices are inclusive of tax. 4 The rise and fall are month-on-month changes.

3. Market Outlook

The raw material styrene continues to decline, reducing the strength of cost support. With industry production recovering and downstream purchasing enthusiasm decreasing, the PS market may continue to focus on price reductions and sales in the short term. The East China market for GPPS and HIPS is expected to be around 7,650-8,600 yuan/ton.

4. Data Calendar

Data Project	Publication Date	Previous data	The trend for this period is expected.
PS Capacity utilization rate	Thursday 4:00 PM	59.9%	↗
PS Profit	Thursday 4:00 PM	29	↗
1 Consider a significant fluctuation as an increase or decrease exceeding 3% in the data dimension. 2 Considered as narrow fluctuations, highlighting data with a change range within 0-3%.

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[PS Morning Briefing] Short-Term PS Market May Continue to Focus on Price Reduction and Sales

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