Price Trend

According to a large number of data monitored by business associations, narrow fluctuations in mainstream domestic styrene prices have steadily increased this week. According to data from business associations, the prices of sample enterprises were 8816.67 yuan/ton on Monday (July 01), 9016.67 yuan/ton on Friday (July 05), an increase of 2.27%, and a decrease of 16.77% over the same period last year.

II. Market Analysis

Products:

This week, the market price of styrene is narrow and the market supply is general. On July 1, East China Styrene closed at around 8800 yuan/ton, and on July 5, East China Styrene closed at 9000 yuan/ton, up by about 200 yuan/ton. That’s Zhangjiagang’s canning price. On July 1, South China Styrene closed at 8,900 yuan/ton for delivery, and on July 5, South China Styrene closed at 9,200 yuan/ton for delivery, up 300 yuan/ton for delivery at above factories. This week, the market price of styrene fell after rising. The market supply situation is general. The stock of styrene in the mainstream reservoir area of East China declined continuously for three weeks. Domestic supply shortage decreased dramatically, and the high-end price fell slightly near the weekend. This week, the oil market continued to fall, and the impact on styrene was mostly negative. Domestic styrene prices fell after rising. Recently, the market has been profitable in both holding and production links, but there is no support after the rapid rise, and the market has fallen back and consolidated.

Industry chain:

Upstream crude oil market continued to weaken this week, peripheral information is weak, lack of effective guidance, ethylene fell slightly, pure benzene rose, styrene production cost support is limited. Downstream enterprises, temporarily maintaining just demand, wait-and-see majority, continue to bear the dual pressure of cost and terminal sales, start-up rate decline more or less, from the overall start-up rate level, still maintain low demand-oriented. The supply and demand deadlock is difficult to break, and the market lacks strong support.

3. Prospects for the Later Period

Styrene analysts believe that in the current market situation, the upstream cost price is temporarily stable, the downstream terminal digestion pressure, the market supply and demand stalemate is difficult to change, while the downstream price is driven by styrene, the demand side has not improved. There is no strong support for the whole Styrene Market and it is expected that the price of styrene will remain narrow next week.