PS: A dilemma between supply and demand collapse

This year, we talked too much about polycarbonate (PC), nylon (PA), polypropylene (P.

Product name	grade	Origin/Manufacturer	January 2	August 31	ups and downs	drop
GPPS	GPS-525	CITIC Guoan	11100	9500	-1600	-14%
GPPS	GP-525	Jiangsu Saibaolong	11750	9500	-2250	-19%
GPPS	GP5250	Taihua Ningbo	11900	9700	-2200	-18%
GPPS	158K	BASF Yangtze	12000	9800	-2200	-18%
GPPS	PG-33	Zhenjiang Chimei	12100	9800	-2300	-19%
HIPS	825	Panjin vinyl	11700	10400	-1300	-11%
HIPS	SKH-127	Shantou Aisikai	11600	10500	-1100	-9%
HIPS	PH-88	Zhenjiang Chimei	12000	11200	-800	-7%

Brandname place of origin/manufacturer January 2nd August 31st change GPPS GPS-525 CITIC Guoan 11100 9500 -1600 -14% GPPS GP-525 Jiangsu Saibaolong 11750 9500 -2250 -19% GPPS GP5250 Taihua Ningbo 11900 9700 -2200 -18% GPPS 158K BASF Yangzi 12000 9800 -2200 -18% GPPS PG-33 Zhenjiang Chimei 12100 9800 -2300 -19% HIPS 825 Panjin Vinyl 11700 10400 -1300-11% HIPS SKH-127 Shantou Aisikai 11600 10500 -1100 -9% HIPS PH -88 Zhenjiang Chimei 12000 11200 -800 -7% Brand name place of origin/manufacturer January 2nd August 31st change product name brand name Brand Name Place of Origin/Manufacturer Place of Origin/Manufacturer January 2, January 2, August 31, August 31, Changes , Changes, Changes , Changes , GPPS GPS-525 CITIC Guoan 11100 9500 -1600 -14% GPPS GPPS GPS -525 GPS-525 CITIC GuoanCITIC Guoan 11100 11100 9500 9500 -1600 -1600 -14% -14% GPPS GP-525 Jiangsu Saibaolong 11750 9500 -2250 -19% GPPS GPPS GP-525 GP - 525 Jiangsu Saibaolong 9500 -2250 -2250 -19% -19% GPPS GP5250 Taihua Ningbo 11900 9700 -2200 -18% GPPS GPPS GP5250 GP5250 Taihua Ningbo Taihua Ningbo 11900 11900 9700 9700 -2200-2200 -18% -18% GPPS 158K BASF Yangzi 12000 9800 -2200 -18% GPPS GPPS 158K 158K BASF Yangzi BASF 12000 12000 9800 9800 -2200 -2200 -18% -18% GPPS PG-330 -Zhenjiang Chimei 12100 98 2300 -19% GPPS GPPS PG-33 PG-33 Zhenjiang Chimei Zhenjiang Chimei 12100 12100 9800 9800 -2300 -2300 -19% -19% HIPS 825 Panjin Vinyl 1170010400 -1300 -11% HIPS HIPS 825 825 Panjin vinyl Panjin vinyl 11700 11700 10400 10400 -1300 -1300 -11% -11% HIPS SKH-127 Shantou Aisikai 11600 10500 -1100 -9% HIPS HIPS SKH-127 SKH- 127 Shantou Aixikai Shantou Aixikai 11600 11600 10500 10500 -1100 -1100 -9% -9% HIPS PH-88 Zhenjiang Chimei 12000 11200 -800 -7% HIPS HIPS PH-88PH-88 Zhenjiang Chimei Zhenjiang Chimei 12000 12000 11200 11200 -800 -800 -7% -7%

Table 1: Some PS price changes from January to August 2019

The PS market in 2019 has been plagued by bad news but has not plummeted, thanks to the strong support of styrene monom.

Company Name	Capacity	Maintenance time
Zhanjiang Dongxing	6	July 3, 2019 Shutdown for 2 months
Shandong Shengyuan	8	July 13, 2019 Shutdown for 45 days
Qingdao Refinery	8	May 22, 2019 Shutdown for maintenance, planned to restart August 10-15
Lister	20	There is a parking maintenance plan in 2019, and the possibility of September-October is high
Abel	25	In 2019, it is planned to overhaul for a month at the end of October
Xinpu Chemical	32	In 2019, it is planned to stop and repair for 1 month on August 28
Dushanzi Petrochemical	32	July 20, 2019 Shutdown for 2 months
Tianjin Dagu	50	At the end of October 2019, it will be stopped for maintenance for 1 month, and there may be a reduction in load or parking on August 1

Company Name Capacity Maintenance Time Zhanjiang Dongxing 6 July 3, 2019 Shutdown for maintenance for 2 months Shandong Shengyuan 8 July 13, 2019 Shutdown and maintenance for 45 days -Restart on the 15th Lester 20 In 2019, there is a shutdown and maintenance plan, and the possibility of September-October is hi.

As mentioned above, the good trend of styrene monomer has provided impetus for the PS market, but when I think about it carefully, I feel that it is not quite rig.

First look at the supply side:

One: From January to July 2019, the domestic PS production accumulated to 1,603,900, an increase of 275,400 tons year-on-year, an increase of 273%, and a record hi.

Looking at the demand side again:

One: Due to the late entry of high temperature this year, the demand for air conditioners has been suppressed, and the willingness of channel dealers to purchase goods has been hinder.

Summary: It is true that the current PS market is eager for a hearty rain, but the reality has given a resounding slap in the fa.