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2014 13th SM MARKET FORUM

Time:2014-10-22 -10-24location:sichuan chengdoushi

Styrene prices hitting styrene market characteristics, the first half of 2014 at the low end; Styrene port inventory levels of the history, business irrigation area up to 333000 tons, 13 years of only 47000 tons; Traders cash reserves reached 185000 tons, with 13 years 33000 tons has obvious gap...

Why attend?

Styrenics market forum highlights 2014

Large-scale styrene contract negotiation

Market status and outlook

Market dynamics and trend

NEW training course: hedging with futures

Our services

Send more speech invitations to selected enterprises based on clients’ interest, including third-party enterprises and manufacturing enterprises

New topics on terminal industries and economic environment in western markets so as to better facilitate enterprises’ understanding of EPS/ABS/PS market dynamics

Special training course on styrene futures operation – hedging with futures

Panel discussion on tariff policy and western terminal markets and economic trends


Event Highlights

Voices of styrenics industry players

 “Speculators have pushed styrenics market prices out of line with fundamentals.”

 “The current styrenics market is not simply determined by fundamental factors like unit turnaround and the commissioning of new capacity any more. There are more intricate factors such as unexpected events like earthquake and manmade problems like breach of contract order. So we want to hear more in-depth and more comprehensive analysis of styrenics market.”

 “Is the spread of import prices to domestic prices too large? What are reasons for changes of futures and spot prices? We want to hear opinions not only from a third party institute but also from some manufacturing enterprises on such issues.”

 “As a downstream producer, we care more about the government’s macro-control orientation. Also, we want to know the up-to-date economic situation in western countries because we have some products exported to those countries. We shall be very glad to get market data and intelligence on these aspects.”

“We care about import tariff policy. We want to know the exact import tariff rates on styrene products from different origins such as South Korea, the Middle East and ASEAN countries.”

 “We are interested in styrene futures operation. It is a hot issue right now. If you can provide a training course on styrene futures operation, it must be very attractive to many market players.”


Styrenics market performance and outlook

Styrene market in 2013

Price – strong uptrend

Inventory – port inventories in East China reached a year-low in July. The inventory level slightly improved in mid-to-late August as downstream plants lowered operating rates in hot weather but quickly reduced again during September to October as a result of combined factors of a peak demand season and intensive unit maintenance in Japan.

In 2013, spot inventory level of traders was as low as 33,000 tonnes or so and port inventory level at around 47,000 tonnes.

Supply – Q2/Q3 maintenance season saw a significant decline in import volume. The moderate increase of domestic production could not meet downstream producers’ strong demand.

Demand – many downstream plants struggled to maintain normal operating rates to keep their market shares although they are running at a tiny or even negative margin. ABS and EPS’s demand for styrene had a notable increase.

Profit – styrene units enjoyed ample margins

Styrene market in H1 2014

Price – low

Inventory – port inventory level was as high as 333,000 tonnes; spot inventory level of traders reached 185,000 tonnes

Supply – SP Chemicals and Zhanjiang Dongxing had 79.5kt/yr additional capacity commissioned in total. China’s total styrene supply increased 347,700 tonnes over 2013.

Import – imports from the Middle East increased by 120kt-150kt and the volume from South Korea also increased by 80kt-100kt. The total import volume in H1 2014 was up by nearly 300kt.

Demand – demand from EPS declined mainly due to poor real estate market and unfavorable economic environment. PS’s demand did not increase much due to cost pressure and weak downstream demand. ABS’s demand had a notable increase.

Profit – profit margins reduced and some producers suffered losses

Styrene market in H2 2014

Price

Inventory

Supply

Demand

Profit

       Styrene derivatives/terminal industry performance

       Styrene futures/spot market performance

       Styrene contract negotiation progress

22 October 2014, PM

12:00 - 18:00 Sign-in
14:00 - 16:00 Training course: hedging with futures
18:00 - 20:00 Dinner buffet


23 October 2014, AM

09:00 - 12:00 Speech
International crude oil market status and trend
Western benzene and styrene market status and trend
ME styrene market status and trend
Asia styrene market status and trend
China styrene market status, trend and market factors
12:00-14:00 Lunch buffet


23 October 2014, PM

14:00 - 17:00 Speech
Western economy and EPS, ABS and PS industry development trend
China EPS market status and outlook
China ABS and PS market status and outlook
Terminal market (real estate) development trend and impact on downstream industry
Terminal market (household appliances) development trend and impact on downstream industry
18:00-20:00 Gala dinner


Contact us
For more information please contactMs. Scarlett Cao +86 21 5155 1606
Fax:+86 21 5155 0738
Email:scarlettcao@cbichina.com