On March 3, the PX commodity index was 49.60, unchanged from yesterday, down 51.56% from 102.40 (2013-02-28), the highest point in the cycle, and up 8.89% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, the market price trend of p-xylene in China is temporarily stable, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi is started, one line of aromatics plant in Fuhai Chuang is started, CNOOC Huizhou refining and chemical plant is overhauled, the PX plant in Hengli Petrochemical is put into operation, other units are temporarily stable, and the operation rate of domestic p-xylene plant is stable About 70%, the domestic market supply of p-xylene is normal, but the recent crude oil price trend is rising, and the market price of p-xylene is affected by the price stability. The operating rate of PX plant in Asia is about 80%. On March 3, the closing price of PX market in Asia increased by 12 US dollars / ton, and the closing price was 690-692 US dollars / ton fob in South Korea and 710-712 US dollars / ton CFR in China. More than 40% of PX in China needs to be imported. The rising price of external market has a certain positive impact on the domestic market price of PDT, and the market price trend of PX is temporarily stable.

WTI crude oil futures market rose in the US, with major contracts at 47.18 yuan / barrel, or 43 US dollars. Brent crude oil futures market price fell, the main contract was $51.86/barrel, down $0.04. Leonid fedun, vice president of Lukoil, Russia’s second largest oil producer, said that OPEC’s proposal to reduce production by 1 million barrels per day was enough to balance the market and push the oil price back to $60 per barrel. The rise of crude oil price is good for domestic chemicals price, while the domestic p-xylene price trend is stable for the time being.

In terms of downstream PTA, the recent price rose slightly to the level of 4250-4350 yuan / ton. The market expected OPEC production reduction and domestic stimulus policy, and crude oil rebounded, boosting chemicals. In terms of PTA supply, PTA plant restart and load reduction coexist, and the market supply increment is limited. At present, the overall operating rate is 81.54%. Due to the lack of downstream demand follow-up, the inventory continues to accumulate. In terms of demand, due to the impact of public health events, the downstream polyester and terminal textile industry resume slowly. The overall operating rate of polyester is at a low level of 63.32%, and the operating rate of terminal textile industry rises to 38%. The overall demand is strong Degree is still weak, PTA market price range shocks, p-xylene price trend temporarily stable.

Recently, the trend of crude oil price is rising, which has a certain positive support for the market of p-xylene, but the downstream demand of the terminal is not significantly improved, and the business analysts believe that PX market price may remain stable.

According to the price monitoring of the business agency, the PTA spot market rebounded slightly on March 4, with an average price of 4268 yuan / ton, up 0.42% compared with the previous trading day, down 35.5% year on year. Main futures were adjusted to close at 4368, up 10% or 0.23% from the previous trading day.

Enterprise name capacity (10000 tons / year) recent device changes

Sichuan Energy Investment Co., Ltd. now has a load of 80%, and the device will be shut down for maintenance on December 29, 2019.

At present, Ningbo Taihua 120 is in full load production, and the device was put into operation with 70% load on February 27.

Sinopec Shanghai 40 to 60%

Tianjin Petrochemical 34 to 70%

Luoyang Petrochemical Co., Ltd. reduced to 50% in May

On February 15, 2015, the load of new 2.5 million ton unit of Hengli Petrochemical was increased to 90%

Fuhaichuang 450 load increased to 80% on February 15

Jiangyin Hanbang 220, February 14, plant shutdown

In terms of supply, PTA plant restart and load reduction coexist. Sichuan Energy Investment Co., Ltd. normally discharges the 1 million ton / year PTA plant after restart on March 3. It is necessary to pay attention to whether Fuhai Chuang 4.5 million ton / year PTA plant is maintained as planned. At present, the domestic operating rate is around 81%, and the overall operating rate is still high. Since February, the accumulated storage pressure has continued. Up to now, PTA social circulation inventory has exceeded 2 million tons, which is still in a situation of supply exceeding demand.

However, in the near future, the price of crude oil has been rising, and the cost side has been boosted to a certain extent. At the same time, the comprehensive load of downstream polyester plant is around 66%. With the introduction of resumption policies and government support policies, the start-up has shown a slow upward trend, and the demand side has seen a positive trend. On March 4, the price of polyester filament mainstream factories in Jiangsu and Zhejiang was temporarily stable, with individual increase of 50 yuan / ton, of which the price of polyester POY (150D / 48F) was 6600-6750 yuan / ton.

Xia Ting, an analyst with business club, believes that with the gradual recovery of market demand, supply and demand will improve in the later period, and PTA will continue to rebound due to the improvement of cost and demand in the short term. However, this year is the big year for PTA production capacity. It is expected that the annual production capacity growth rate will be as high as 30%. In the context of production capacity delivery cycle, PTA is highly limited, and the trend will still be weak in the future.

1、 Price trend

In February, the domestic dimethyl ether Market showed a continuous downward trend. The average price of the domestic dimethyl ether Market at the beginning of the month was 3340 yuan / ton, and the average price at the end of the month was 3003.33 yuan / ton, with a drop of 10.08% in the month, and the price was 4.76% lower than the same period last year.

2、 Market analysis

Product: the market of dimethyl ether fell in February, and the atmosphere of market transaction was light. As of February 28, no quotation has been made for the parking of DME devices such as Hebei Yutai, Henan Lankao Huitong Chemical Co., Ltd., Shanxi Lanhua Technology Co., Ltd. and Shandong Dezhou shengdeyuan Co., Ltd.; no quotation has been made for the failure of new DME devices in Henan Yima. The ex factory price of dimethyl ether of Henan xinlianxin Chemical Industry Group Co., Ltd. is 2900 yuan / ton, that of Henan Shengxin Biotechnology Co., Ltd. is 2970 yuan / ton, and that of Hebei Jichun Chemical Industry Co., Ltd. is 3150 yuan / ton.

In February, the overall operating rate of DME market was about 12%. Although the operating rate was relatively low, the market was still in a situation of oversupply. This month, the trend of dimethyl ether continued to be weak, mainly falling. At the beginning of the month, affected by the public events, the Spring Festival holiday was extended, the transportation in all cities was closed, the downstream was shut down, the terminal demand was greatly reduced, and the market transaction atmosphere was light. At this time, the civil gas market is falling, which affects the market mentality. The operators are mainly short of the future market and wait and see. In June, the civil gas market rebounded under the boost of crude oil, which helped dimethyl ether to stop falling and stabilize. However, due to the large inventory pressure of most enterprises, it did not drive the market up. At the end of the month, with the sharp diving of international crude oil, the civil gas market once again fell into a deadlock, mainly downward. The price difference between gas and ether gradually decreased, and the market of dimethyl ether was under pressure again, and the factory price fell below 3000 yuan / ton.

Industry: according to the price monitoring of the business association, there are three kinds of commodities in the rise and fall list of bulk commodity prices in February 2020, among which one is more than 5%, accounting for 6.3% of the monitored commodities in the energy sector; the top three commodities are petroleum coke (26.38%), dynamic coal (2.09%) and coking coal (0.79%). There are 12 kinds of commodities falling on a month on month basis, and 7 kinds of commodities falling by more than 5%, accounting for 43.8% of the number of commodities monitored in the sector; the top three products falling are liquefied gas (- 15.59%), MTBE (- 15.56%), dimethyl ether (- 10.08%). This month’s average rise and fall was – 3.68%.

3、 Future forecast

In February, under the influence of public events, there were many negative factors in the market of dimethyl ether, and the price kept falling, reaching the bottom continuously. At present, the decline of civil gas is dominant, the trend of cost methanol is weak, and the market of dimethyl ether is still in a relatively weak position. At the end of the month, Henan xinlianxin and other manufacturers implemented the minimum guarantee policy to protect the market price. In a word, the market of DME is easy to fall and hard to rise in the short term. In March, the downstream construction resumed slowly, the terminal demand was expected to increase, the DME inventory was released, or the weak situation could be changed.

Recently, the price of rare earth in China has continued to rise. The price of dysprosium oxide has increased by 10000 yuan / ton to 1855000 yuan / ton, and the price of terbium oxide has increased by 50000 yuan / ton to 4275000 yuan / ton. The price trend of some rare earth products in China is as follows:

In recent years, the market price of heavy rare earth in China has continued to rise. As of the 3rd day, the price of dysprosium oxide is 1.855 million yuan / ton; the price of dysprosium metal is 2.325 million yuan / ton; the price of dysprosium ferroalloy is 1.81 million yuan / ton; the price of Terbium oxide is 4.275 million yuan / ton; the price of dysprosium metal is 5.25 million yuan / ton. In recent years, the price of heavy rare earth in China has continued to rise, and some prices in light rare earth market have fallen slightly.

On March 2, the acrylic commodity index was 35.94, unchanged from yesterday, 64.06% lower than the cycle’s highest point of 100.00 (2011-09-01), and 46.28% higher than the lowest point of 24.57 on November 26, 2015. (Note: cycle refers to 2011-09-01 to now).

In recent years, the price of rare earth in the rare earth market has risen sharply. In recent years, Myanmar has unilaterally banned the export of rare earth, which has led to a sharp decline in the import volume of domestic heavy rare earth. In addition, some rare earth enterprises in the South have not fully resumed their work, the supply of domestic heavy rare earth has decreased, the contradiction between the supply and demand of domestic heavy rare earth is sharp, and the market price of heavy rare earth has risen sharply. In addition, the demand for permanent magnet in the near future is general. In the first batch of rare earth mining indicators in 2020, the amount of light rare earth has increased compared with that in 2019. The market trend of praseodymium and neodymium series products has declined slightly. The on-site supply is normal, the demand for light rare earth in the near future is general, and the market price has fallen slightly. The price fluctuation of rare earth market is related to the national environmental protection supervision. Rare earth production has particularity, especially some products have radiation hazards, which makes the environmental protection supervision more strict. In recent years, transportation has been limited to some extent, and the price trend of some rare earth products remains stable.

According to the Ministry of industry and information technology and other documents, by 2025, the sales of new energy vehicles will account for about 25%. Global electrification is stepping into the acceleration period of high-quality models at the supply side. China’s double point policy and European carbon emission requirements have established a long-term development mechanism for new energy vehicles. Driven by national policies, the supply and demand pattern of rare earth industry is expected to further improve, domestic demand in China has improved, and the price of heavy rare earth in domestic rare earth market remains high. Recently, the Ministry of natural resources and the Ministry of industry and information technology issued the notice on the issuance of the total amount control index (the first batch) for the exploitation of rare earth ores and tungsten ores in 2020, which clarified that the total amount control index for the exploitation of the first batch of rare earth ores (rare earth oxide REO) in China is 66000 tons, and the total amount control index for the exploitation of tungsten concentrate (65% of tungsten trioxide) is 52500 tons.

Rare earth analysts of business agency expect that the recent domestic environmental protection inspection will not be reduced, coupled with the domestic heavy rare earth import is blocked, and the supply and demand pattern is improving in a good way. It is expected that the price of heavy rare earth in the rare earth market is still expected to continue to rise, and the price of light rare earth will maintain a low level.

1、 Price trend

In February 2020, the butadiene market fell sharply. According to the monitoring of the business society, the price of butadiene at the beginning of the month was 8056 yuan / ton, and at the end of the month was 6223 yuan / ton, a 22.76% drop in the month, with a 33.41% drop in the price compared with the same period last year.

2、 Analysis of influencing factors

Product: in February, the domestic butadiene market fell sharply. After the Spring Festival, the downstream construction was delayed and the logistics and transportation were stagnant. However, most butadiene plants maintained normal operation, the inventory in circulation was high, and the contradiction between market supply and demand worsened, dragging the market down rapidly. With the rapid decline of the market in the north, the downstream latex manufacturers in the middle and late ten days have resumed their work and recovered their logistics. The market in the North rebounded slightly after the stop of the decline, but there is no obvious price difference between the north and the south, the supply pressure in East China is difficult to be relieved, the contradiction between supply and demand in the market still exists, the market speculation is weak, the market quickly recovers weak, and the impact of public health events at the end of the month expands, which has an impact on the external market Market and commodity trends have brought drag, butadiene business is expected to be short in the future.

In terms of enterprises, Sinopec’s supply price of butadiene in East China decreased by 1700 yuan / ton to 6500 yuan / ton on a month on month basis; the price of North Huajin butadiene dropped by 2200 yuan / ton on a month on month basis with 5810 yuan / ton on a month on month basis; affected by cost and inventory pressure, Nanjing Chengzhi 100000 ton / year oxidation and dehydrogenation unit stopped on February 10, and it is expected to restart in early March; Inner Mongolia Jiutai’s listed price is 5800 yuan / ton, Compared with the previous month, the price of Shenhua Ningxia coal butadiene dropped by 2000 yuan / ton; compared with the previous month, the price of Shenhua Ningxia coal butadiene dropped by 1700 yuan / ton to 5420 yuan / ton; within the month, Zhejiang Petrochemical Co., Ltd. maintained about 60% load operation of 200000 ton / year butadiene plant, and some qualified products were delivered to downstream contracts; Dalian Hengli 140000 ton / year butadiene plant operated stably within the month, and some goods were exported, with the price reference of 5760 yuan / ton by the end of the month.

In terms of industrial chain: SBR: in February, the domestic market price of SBR was significantly weaker. After the year, the downstream failed to return to the market on time, and there was a strong wait-and-see mood on the site; however, most of the styrene butadiene production enterprises operated stably, only the styrene butadiene plants such as Qilu and Yangzi reduced their load in a short time, and the inventory of the whole factory and traders were significantly higher, with a large inventory pressure. Local traders continued to resume work, but most of the terminal restart progress was slow, and some of the resumption enterprises first focused on the consumption of raw materials inventory, which was difficult to release demand, and limited changes in trading and investment.

Cis-1,4-polybutadiene rubber, in February, the domestic cis-1,4-polybutadiene rubber market showed a sharp decline trend. Since the end of January, influenced by macro factors, and after the Spring Festival, the logistics and downstream have not recovered, and the trading in Shunding market tends to stagnate. Over time, there was no sign of recovery in the market. Upstream factories had overstocked inventory, and some warehouses were expanding. Affected by the control of logistics, some Shunding factories gradually reduced their load. After the middle of the year, the price of raw materials fell sharply, the stock pressure accumulated, and there was no sign of improvement in the downstream. Shunding market fell into a falling channel, and the supply price fell to a new low level in recent two years. With the price reaching a low point, some terminal factories returned to the market, the enthusiasm of middlemen for price collection increased, coupled with the strong support of Tianjiao, the market decline slightly slowed down.

Industry: according to the price monitoring of the business agency, in February 2020, there are 28 kinds of commodities rising month by month in the list of commodity prices in the chemical industry sector, including 5 kinds of commodities rising by more than 5%, accounting for 5.7% of the number of commodities monitored in the sector; the top three commodities rising are sulfur (10.60%), hydrofluoric acid (8.40%) and fluorite (8.05%). There are 48 kinds of commodities falling on a month on month basis, and 27 kinds of commodities falling by more than 5%, accounting for 31% of the number of commodities monitored in the sector; the top three products falling are butadiene (- 22.76%), propane (- 21.45%) and hydrogen peroxide (- 18.21%). This month’s average rise and fall was – 2.53%.

3、 Future forecast

In the future, good news: the start-up of the synthetic rubber industry has not declined significantly; there is a certain rigid demand for spot goods in the latex industry. On the negative side, the supply of domestic manufacturers is stable, the inventory in the tank farm remains high, and the upstream and downstream links of the butadiene industry chain have certain inventory pressure. With the downstream industries returning to work one after another, retail investors have just needed or will bring some support to the market at the low price node. However, in terms of the supply side, at present, the social inventory is high, the external cargo is abundant, and the output of Zhejiang Petrochemical and Dalian Hengli is released stably, so the overall supply side of butadiene market is still under pressure. On the one hand, the short-term market is abundant in supply; on the other hand, it will take some time to digest the inventory of finished products and raw materials from the downstream to the upstream. Butadiene analysts of the business club predict that the short-term domestic butadiene market will remain weak in the first half of March. In the second half of March, they need to pay attention to the macro news impact on the recession and whether the terminal demand can bring the bottom support to the market.

1、 Trend analysis

As shown in the figure above, today’s domestic copper price rose slightly, offering 45351.67 yuan / ton, 1.35% higher than the previous day, down 9.15% year on year. Shanghai copper’s main contracts rose 0.86% to close at 45620 yuan. LME copper three-month contract opened higher after the pressure callback, to the Asian market deadline at $5734, up 0.19%.

2、 Market analysis

Copper prices rebounded in the past two days. The strong rebound in the US stock market boosted the market. Overnight, Luntong copper rose by $135. Smelter production reduction and maintenance affected the supply of refined copper. The recovery of downstream consumption accelerated the pace of boosting copper prices.

3、 Future prospects

According to the above situation, copper analysts of nonferrous branch of business society think that: domestic social public health events are gradually under control, provinces have started construction in succession, and downstream demand is expected to be boosted, but foreign epidemic situation develops rapidly, early inventory accumulation is serious, and copper price growth is restrained, and short-term fluctuation of copper price is expected to be strong.

1、 Price trend

According to the data of the bulk list of business agencies, the domestic propylene (Shandong) market price rose sharply in March, and the price rose continuously in three days. At the beginning of the month, the average price of enterprises was the lowest, 6350 yuan / ton; on March 3, the average price of enterprises was the highest, 6542 yuan / ton, up 3.02% on March 3.

2、 Analysis and comment

Product: in March, the price of propylene in Shandong began to decline in the early stage of the first reform. On the first day, the price of some enterprises picked up slightly. On the second day, the price of the whole line rose slightly. Today, most enterprises increased about 200 yuan / ton. At present, the market turnover is 6500 ~ 6700 yuan / ton, and the mainstream price is about 6500 yuan / ton.

Industry chain: in the upstream, during the Spring Festival, the international crude oil market continued to decline substantially, and then rebounded slightly. Since March, OPEC has increased its production reduction expectation. The crude oil price has been near the low level in 2018, and the crude oil market has risen significantly, and the crude oil futures have risen rapidly.

In recent days, PP market rose steadily, up 1.68% in three days. Futures market is better, which has a certain positive impact on propylene.

In recent days, acrylic acid market has been stable, and the price has not changed, which has little impact on propylene.

In recent days, the market of propylene oxide has declined significantly, reaching 4.43% in three days, which is expected to have a certain negative impact on propylene.

In recent days, epichlorohydrin prices fell sharply, down 6.28% in three days, which had a significant negative impact on propylene.

Recently, the price of n-butanol in China has been stable, with little impact on propylene.

In recent days, octanol market has declined by 2.53% in three days, which has some negative impact on propylene.

Isopropanol market prices recently fell slightly, down 1.90% in three days, which was negative for propylene market.

The price of phenol in Shandong Province has also been explored recently, with a 3-day decline of 2.60%, which has some negative impact on propylene.

In recent days, the acetone market in Shandong Province has seen a slight decline in price, with a decline of less than 0.48% in three days, which has limited impact on propylene.

3、 Future forecast

According to the propylene analyst of the chemical branch of the business society, the propylene market has rebounded continuously in recent days, and the crude oil market has rebounded from the bottom under the influence of multiple good news. In the near future, the production and inventory of propylene plant are relatively low. Now, crude oil and polypropylene futures are rising, which makes the downstream procurement active. Therefore, although the downstream products are slightly down, it is expected that the market price of propylene may rise in recent days, and the downstream products may slightly follow up in the later period.

1、 Trend analysis

According to the nickel price monitoring of the business association, on March 3, the spot nickel price rose sharply, with the quotation of 103650 yuan / ton, 2.64% higher than the previous day, 3.32% higher for two consecutive days, 0.27% higher than the previous year. Today, Shanghai nickel opened at 102500 yuan, followed by a rise in price before a fall in price, closing at 102350 yuan, up 0.34%. LME3 nickel closed 0.32% lower at $12640 at the end of the month.

2、 Market analysis

In the past two days, nickel prices have rebounded sharply. On the one hand, Indonesia’s first case of virus infection has emerged, and the uncertainty of nickel supply prospects in India has boosted prices. On the other hand, since March, due to the effective control of the domestic epidemic, the provinces have returned to work one after another, and the downstream demand is expected to boost.

3、 Future prospects

Future forecast: considering the impact of Indonesia’s ban on mining and the rainy season in the Philippines, domestic smelters and traders have stockpiled nickel ore in advance. Since September last year, China’s import of nickel ore has increased significantly, so the current supply of nickel ore is relatively abundant, so the impact of the epidemic on the supply and demand of nickel ore is limited. However, the downstream recovery gradually supports nickel price, and it is expected that the short-term fluctuation of nickel price will be strong.

According to statistics, the price of phthalic anhydride in China is slightly lower. As of March 2, the price of phthalic anhydride from o-phthalic method is 5675 yuan / ton. Recently, the price of phthalic anhydride in China is slightly lower, the demand of plasticizer industry is general, and the market of phthalic anhydride is stable and slightly lower.

In recent years, the market price of phthalic anhydride in China has been slightly lower, the transportation of chemicals has been alleviated, and some phthalic anhydride manufacturers still have inventory and poor delivery. The market price of phthalic anhydride and phthalic anhydride in East China fell slightly, the downstream factories shut down a lot, the factory inventory pressure increased, the high-end transaction was blocked, the recent factory inventory increased, and the market price trend of phthalic anhydride declined. In East China, 5500-5800 yuan / ton is the main flow of negotiation for neighboring method and 5300-5500 yuan / ton for naphthalene method; in North China, 5400-5800 yuan / ton is the main quotation for phthalic anhydride market, most of the manufacturers in the site have stable prices, low downstream construction, mainly on-demand procurement, strong wait-and-see mentality, the domestic phthalic anhydride plant is under normal operation, the spot supply of phthalic anhydride in the site is normal, plus phthalic anhydride Travel demand is not good, for phthalic anhydride on-demand procurement, phthalic anhydride price trend slightly down.

In the near future, the execution price of domestic phthalic anhydride upstream product Sinopec is 5800 yuan / ton. The import price of phthalic anhydride in port area is slightly lower, and the quotation is declining. In the near future, the port phthalic acid market is weak, the port inventory is increased, and the external quotation of phthalic acid is lower. The actual transaction price is subject to negotiation and detailed discussion. Influenced by the low price of upstream raw material phthalic acid, the market price of phthalic anhydride is slightly lower.

The price of downstream DOP raw materials isooctanol is temporarily stable, the cost of DOP raw materials is fluctuating and decreasing, DOP enterprises operate at low load, the logistics is limited in the near future, transportation is difficult, and DOP manufacturers’ inventory is increased. The price of DOP fell, the purchasing enthusiasm of customers was poor, the price of downstream PVC fell, and the equipment of PVC enterprises started at a low level. The main quotation in DOP market is about 7000-7500 yuan / ton, a small amount of market plasticizer is traded, and the price of upstream ox fluctuates at a low level. It is expected that the market price of phthalic anhydride will maintain a fluctuating trend in the later stage.

1、 Price trend:

According to the data of the bulk list of business agencies, the domestic ABS market weakened in February, and the spot price of the market mostly decreased. As of Monday, March 2, the main offer price of general-purpose ABS was about 12550.00 yuan / ton, a decrease of 7.04% compared with the average price at the beginning of February.

2、 Analysis of influencing factors:

Industry chain: in all upstream aspects of ABS, styrene market was still depressed in February. Although there was a narrow rebound in the last ten days, the transaction changes were limited, and the overall weakness improved little. Due to the impact of domestic health events, different traffic regulations have been carried out in different places. Although the vehicle transportation capacity has recovered in the near future, the downstream demand is not high. In the case of buyer wait-and-see phenomenon, business inventory gradually accumulates to form pressure. In addition, the recent cost support is weak, many businesses choose to let the profit go single. Styrene market is under the double pressure of insufficient cost support and weak demand in the near future, or will still be in a low market in the short term;

This month, the trend of acrylonitrile related products in the spot market is weak, and the short price is weak. The downstream construction resumed slowly, and it was reported that some acrylonitrile production enterprises had production reduction plans for this. Acrylonitrile producers say transport barriers remain high. The operators are confused. The downstream factories just need a small amount of goods, and the market participants need to be further expanded. It is expected that the market of acrylonitrile will not improve in the near future;

In February, the domestic butadiene market dropped significantly, continuing the weak situation. Some manufacturers in the north and East China are relatively active in export. In addition, Zhejiang Petrochemical and Hengli have some products for export, and the market spot supply increases significantly. However, it is near the end of the month for the downstream and Liuhe latex factories to resume work one after another, and the raw material inventory of the manufacturers to resume work is relatively abundant, and the enthusiasm for goods preparation after saving is poor, and the market lacks the follow-up of new orders. The short-term external offer and the spot supply of the tank farm are abundant. There is no obvious price difference between the north and the south in order to stimulate the circulation of goods. The supply side of the market is still under pressure. The downstream inquiry is slightly cautious. The market bearish atmosphere is diffuse, and the market is approaching a five-year low. The northern part of the high price offer lack of solid single support;

3、 Future forecast:

Business analysts believe that: the ABS market fell in February, and the recent spot prices of various brands gradually decreased. Cost side of the upstream three materials this month trend is not ideal, on the cost side support is not good. The spot supply is more sufficient, but the resistance of logistics and transportation is larger. In the near future, the market may maintain the policy of destocking, but the slow resumption of downstream work hinders demand, the market atmosphere is not active, and trading is light. It is expected that domestic ABS prices will continue to weaken in the near future.