SunSirs: Market Analysis of Styrene on Oct. 8
October 09 2019 10:44:37 SunSirs (John)On October 8, the domestic styrene market remained basically stable and steadily falling. International crude oil continued to fall during the festival, and the international prices of raw materials such as ethylene and pure benzene declined. After the holiday, the raw material crude oil remained weak, while the domestic supply of ethylene decreased, the import increased, which supported the market of styrene after the festival, and cost-side support of styrene recovered. In terms of inventory, the inventory of styrene ports in East China has increased, and some markets have low-priced shipments. However, with the end of the downstream EPS plant parking, the expected demand for styrene has increased, and in October, some large and medium-sized installations in East China have been shut down for maintenance, and the arrival of the port is expected to decrease in the week after the holiday. SunSirs data analysts expect the styrene price to remain stable and tight in the short term.
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