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High basis limits styrene decline

 Last Update: 2022-02-15
 Source: Internet
 Author: User

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The good fundamentals of styrene have not changed significantly.

In summary, from the cost side, the price of pure benzene is expected to maintain an upward trend.
From the perspective of supply and demand, the amount of equipment maintenance in December is large, imports to Hong Kong are small, supply is tightening, and the demand side is weaker than the previous month, but the overall vigorous pattern remains unchanged.
.
From the perspective of valuation, the spot price is overvalued, but the tight supply pattern will continue to support the spot price at a high level.
After the EB period price pulls back sharply, the basis rises to a very high position, indicating that the EB2101 period price is undervalued and there is a rebound in repair demand.

Transfer from: Futures Daily

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