1、 Price trend

According to the monitoring of bulk data from the business agency, the main domestic styrene prices fell slightly at the beginning of the week and began to rise slightly on Thursday. The price of sample enterprises on Monday (April 20) was 5150.00 yuan / ton, and the price of sample enterprises on Friday (April 24) was 5000.00 yuan / ton, down 2.91%, 40.12% compared with the same period last year.

2、 Market analysis

Products:

This week’s styrene market fell slightly after a weak rebound. East China on April 20: East China styrene closed at 5150 yuan / ton. On April 24, East China styrene closed at 4950-5100 yuan / ton, down 50 yuan / ton. The above is Zhangjiagang’s export price. On April 20, South China styrene closed at 5100-5200 yuan / ton, and on April 24, South China styrene closed at 4950-5000 yuan / ton, down by 100 yuan / ton. The delivery price of the above factories. This week’s styrene market was mainly volatile, with a slight decline in the overall market.

Industrial chain:

The trend of international crude oil fluctuated sharply. The overall oil price fluctuated downward. At the beginning of the week, the oil price fell sharply. Wti05 contract delivery showed a historical negative value. But on Thursday, the crude oil price was gradually put on the agenda with the renewed tension of the “US Iraq” relationship and the production reduction of OPEC + and other oil producing countries. The oil price rebounded strongly, styrene market sentiment rose, and the price stopped rising on Thursday. In the upstream, the price of pure benzene was stable compared with last week, while the price of ethylene declined, while the price of PS, EPS and ABS in the downstream decreased slightly. Styrene inventory in East China port fell this week, but it is still higher than the same period last year. At the end of April, the amount of styrene imported from East China increased, and the restart of domestic styrene plant gradually increased. It is expected that the operation rate of domestic styrene plant will reach about 74.5%. In the short term, it is difficult to change the situation that styrene supply exceeds demand. Although the downstream of styrene still keeps considerable profits, there is little new demand for styrene, and most of it is pre-sale.

3、 Future outlook

As a whole, the whole styrene market lacks strong support points. In May, the situation of styrene supply surplus still exists, but crude oil has a great impact on the styrene industry chain, and the crude oil price is still likely to rebound. It is expected that next week, styrene will be mainly consolidated in a weak shock with a price of 4400-5200 yuan / ton. The market needs to pay close attention to the trend of crude oil price.