EPS Apparent Profit Kept Shrinking
In 2020, the EPS industry enjoyed a high profit, while it didn’t performed so well in 2021, especially from April, when the overall profit started to show a downtrend.
In 2021, China’s EPS price kept fluctuating upwards, while the overall profit continued shrinking, mainly due to the smaller increment in the EPS price than that in the upstream feedstock price. According to SCI, from April to early June, the EPS apparent profit averaged at RMB 535.2/mt, down RMB 455.3/mt or 45.97% from Q1. The average price of EPS general materials was RMB 11,336/mt, up RMB 1,461/mt or 14.79% from Q1. As the direct upstream product of EPS, the styrene price exerted strong impacts on the EPS price.
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