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SunSirs: Analysis of the Styrene Market on November 3
November 04 2021 13:24:48SunSirs(John)

Price trend

The styrene market weakened on the 3rd. The production price of styrene in Shandong was 9,520.00 RMB/ton, down 1.04% from 9,620.00 RMB/ton on the 2nd.

On the 3rd, the price of styrene in East China was lowered to around 9,300-9,350 RMB/ton. The price in Northeast China was lowered to around 8,950 RMB/ton, and the price in South China was around 9,150-9,200 RMB/ton.

Analysis review

On the 3rd, the overall price of styrene fell in the market. The price of crude oil recovered, the price of raw material pure benzene continued to fall, the difference between futures and spot prices in the market was slightly smaller, and the overall negotiation atmosphere was light.

Styrene cost support was temporarily stable. In the market price drop, some holders had been active in shipments and sold at concessions. Under the suppression of the increase in bad news, some bargain-hunting replenishment transactions were made.

Market outlook

It is expected that the styrene market may still decline slightly in a short period of time.

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