Monomer observation: demand is weak

Global stock markets were mixed, and European and US stocks were boosted by positive data on US private sector employment higher than expected, closing higher. And the market anticipates that the Greek debt swap agreement will not be reached and market sentiment will be more optimistic. Crude oil market closing prices also rose for this purpose.

Overnight, the ethylene market in Asia rose again after falling, CFR Northeast Asia fell 5 US dollars / ton to close at 1301.5-1302.5 US dollars / ton; CFR Southeast Asia to close at 1393.5-1395.5 US dollars / ton, compared with the previous trading day fell 2 US dollars / ton.

Most of the downstream products such as styrene, polyethylene, etc. are in the down channel, the demand is weak, and the formation of high ethylene pressure, the market outlook continues to increase resistance. However, due to the high firmness of the Raw Material naphtha, the market for ethylene under cost pressure is also limited. Spot overall trading atmosphere was warm and the transactions were scarce. It is reported that a single 6,000 tons of Middle East cargo delivered in April was offered at 1,320 US dollars/ton CFR China, but no buyer returned.

Asian styrene closed down again and the decline has widened. FOB Korea closed at 1488-1489 US dollars / ton, compared with the previous trading day fell 19 US dollars / ton, CFR China closed at 1491-1492 US dollars / ton, compared with the previous trading day down 17 US dollars / ton. Styrene went down for three consecutive trading days, and the current market conditions are light and the domestic styrene market atmosphere is also deserted. The mainstream market talks in the Jiangsu market continued to decline, and they rebounded in early trading today. The price of 10,650 yuan per ton occupies the mainstream price.