Inventory of key events in the ABS/PS industry in 2019

The industry policies and macro events in 2019 have brought various impacts on the ABS/PS mark.

Macro and policy side:

Sino-US trade war

In 2019, the Sino-US trade war continued to bring a lot of uncertainty to the commodity mark.

VAT reduction

On March 20, the Ministry of Finance, the State Administration of Taxation and the General Administration of Customs Announced Document .

Styrene futures are listed

China Securities Regulatory Commission spokesman Chang Depeng said on August 30 that the China Securities Regulatory Commission approved the Dalian Commodity Exchange to carry out styrene futures trading, and the official listing date is September 26, 201 Styrene futures, the 70th domestic derivative product listed on DCE, delivered a satisfactory answer in the first month: the futures price trend was in line with market expectations, and the price discovery and hedging functions began to appear, achieving a stable sta.

Supply and demand side:

Guangxi Changke ABS unit successfully tested

On December 1, 2019, the first phase of the ABS production line of Guangxi Changke ABS plant was successfully test.

The second phase of the new plant of LG Chemical (Huizhou) Chemical .

Styrene production and operating rate both reached new highs

Judging from relevant statistics, due to the fact that domestic styrene enterprises have less overall planned maintenance, and the industry is profitable, the operating rate of factories is generally hi.

The downstream performance of the three main forces is remarkable

In 2019, the domestic EPS industry started to increase by 4 percentage points to 48%; the output is estimated to be close to 9 million tons, and the apparent consumption will exceed 7 million to.