Price trend

According to the commodity analysis system of SunSirs, the styrene market fluctuated and fell in April, with an average price of 8,284 RMB/ton at the beginning of the month and 7,660 RMB/ton at the end of the month, a decrease of 7.53% during the week and a year-on-year decrease of 19.41%. Entering April, it was the peak season for styrene maintenance, and the supply side was tightening. Due to the decline in benzene prices on the cost side, styrene is weak and declining. In mid to late April, the benzene market slightly rebounded, and the price of styrene slightly increased. However, due to high inventory in the downstream 3S industry, limited production, and demand constraints, the styrene market fluctuated and fell until the end of the month.

Analysis review

News side: On April 29th, international crude oil futures closed lower. The settlement price of the main contract for WTI crude oil futures in the United States was 60.42 US dollars per barrel, a decrease of 1.63 US dollars per barrel or 2.6%. The settlement price of the main Brent crude oil futures contract was 63.28 US dollars per barrel, a decrease of 1.51 US dollars per barrel or 2.3%.

Cost side: The market price of benzene fluctuated and fell in April. On April 1st, the price was 6,659.67 RMB/ton; On April 29th, the price was 5,785.33 RMB/ton, a decrease of 13.13% from the beginning of the month.

Supply and demand side: In April, the styrene major factory underwent planned maintenance, with strong support from the supply side. Downstream 3S had continued to accumulate inventory, with factories operating at reduced loads. At the same time, due to the impact of tariff policies, demand had further weakened, and the demand side remained weak.

Market outlook

Entering May, styrene maintenance enterprises will gradually resume operation, and the supply and demand pattern will weakened. With the fluctuation of raw material benzene at a low level, it is expected that the styrene market will be weaker in the short term.

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