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[ps morning briefing] short-term ps market may see slight decline

Longzhong 2025-09-19 08:36:11

I. Points of Attention

1 、 9/18: Market concerns about the poor outlook for the U.S. economy and demand are overshadowing the positive effects of the Federal Reserve's interest rate cuts, leading to a decline in international oil prices. NYMEX crude oil futures for the 10 contract fell by $0.48 to $63.57 per barrel, a decrease of 0.75%; ICE Brent crude oil futures for the 11 contract fell by $0.51 to $67.44 per barrel, also a decrease of 0.75%. China's INE crude oil futures for the 2511 contract fell by 3.5 to 496.3 yuan per barrel, with a night session drop of 7.5 to 488.8 yuan per barrel.

Core Logic: The raw material styrene fluctuates weakly, with a weakened cost directionality.

II. Price List

Product	Region	9-17	9-18	Rise and fall
Brent	--	67.95	67.44	-0.51
Styrene	Jiangsu	7180	7100	-80
Styrene	Guangdong	7225	7135	-90
PS	East China	7600	7570	-30
Note: 1 Brent is priced in USD/barrel, while styrene and PS are priced in RMB, unit: yuan/ton. 2 Select Green Anqingfeng 525 in PS. 3 The above RMB prices include tax. 4 The increase or decrease is the change value compared to the previous period.

3. Market Outlook

The raw material styrene fluctuates weakly, leading to weaker cost directionality. The industry supply is relatively loose, and downstream purchases are just needed at low levels. In the short term, the PS market may experience a slight decline. It is expected that the East China market for general-purpose polystyrene might be 7,550-8,500 yuan/ton.

4. Data Calendar

Data Project	Publication date	Previous Data	Current Trend Forecast
PS Capacity Utilization Rate	Thursday 4:00 PM	61.2%	↘
PS Profit	Thursday 4:00 PM	40	↘
1 Consider significant fluctuations as those with changes exceeding 3% in data dimensions, highlighting the magnitude of increase or decrease. 2 "Regarded as narrow fluctuations, highlighting data with a rise and fall range within 0-3%."

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[ps morning briefing] short-term ps market may see slight decline

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