ABS
After experiencing continuous increases from last Friday (December 8) to this Tuesday (December 12), the price of ABS raw materials in the main domestic market rose from 9,700 yuan/ton to 9,740 yuan/ton, an increase of 0.4 %. Subsequently, yesterday (December 13), upstream prices fell, market risk sentiment increased, and ABS raw material prices fell slightly, closing at 9,725 yuan/ton, a decrease of 0.15%.
PP
In the last period, domestic PP market prices were weak and consolidated, with some prices falling slightly by 20-30 yuan/ton. PP futures fell during the session, adding to the concern in the spot market. During the day, the prices of most manufacturers were stable, and there was some support for supply costs. There is no obvious contradiction between the overall supply and demand in the market. However, due to the recent increase in short-term maintenance equipment, coupled with the relatively high prices of raw materials such as propane and crude oil, enterprises have increased load reduction production, which has significantly slowed down the front-end supply pressure to a certain extent, which has significantly supported PP. U.S. crude oil inventories fell much more than expected, the Federal Reserve hinted at three interest rate cuts next year, and international oil prices rose. Short-term support for PP costs will increase.
It is worth noting that China will usher in the traditional Spring Festival in one month. According to previous experience, due to the impact of supply, logistics and other aspects, the price of raw materials will rise to a certain extent, and the price of finished products will also rise accordingly. , if you need to order finished products, please communicate with us as soon as possible to avoid your losses due to rising raw materials and the long Spring Festival holiday.