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SunSirs: Styrene Market Declined This Week (April 13-17)
April 20 2020 13:37:57SunSirs(John)

Price trend

According to the monitoring of the bulk data of SunSirs, the mainstream domestic styrene prices fell this week. According to the data of SunSirs: the price of the sample enterprise was 5,400.00 RMB/ton this Monday (April 13), and the price of the sample enterprise was 5,150.00 RMB/ton this Friday (April 17), a decrease of 4.63% and it fell by 37.07% compared with the same period last year.


Analysis review   

Product: Styrene market prices fell this week. On April 13, East China styrene closed at 5,400 RMB/ton, and on April 17, it closed at 5,150 RMB/ton, down 250 RMB/ton. The above price is Zhangjiagang's price. On April 13, South China Styrene closed at 5,300 RMB/ton, and on April 17, it closed at around 5,100 RMB/ton, down by 200 RMB/ton. The styrene coming to the port this week has decreased compared to the previous period, and the port stocks have been further digested. The operating rate of domestic styrene plants has not changed much, and the supply is relatively stable. However, due to the low price of styrene in the early stage, downstream and traders had a certain inventory, and the demand for styrene weakened in the short term.

Industrial chain: On the upstream side, crude oil prices fell sharply this week, a decrease of 11.63%. The price of pure benzene continued to rise slightly, by 3.4%. Ethylene fell slightly after the first rise, then fell by 1.21%. The downstream side failed to continue last week's strong upward trend, PS fell slightly by 0.86%, EPS stabilized, ABS rose slightly by 1.37%. The operating rate of downstream enterprises increased slightly compared with last week, but the downstream factories have relatively stable stocks for styrene, coupled with the limited room for improvement of the subsequent operating rate of the factory, the beneficial effects on styrene are limited.

Industry: As a whole, the styrene market price fell this week, and the rising sentiment in the market dissipated. Most domestic enterprises reduced prices and promoted sales, and kept stable shipment. Downstream enterprises focused on just need to take goods, and the wait-and-see increased. Some of the market's shippers made profits, and the market was full of bad news. At present, the market is in a slight downward trend.


Market outlook

This week, international oil prices and energy fell continuously. In the short term, styrene prices mainly fell, keeping up with the trend of international oil prices. The market should pay more attention to the guidance of the external disk and the trend of bulk futures on the market.


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