Price trend

According to the commodity analysis system of SunSirs, the styrene market continues to decline this week, with an average price of 8,050 RMB/ton at the beginning of the week and 7,904 RMB/ton over the weekend, a decrease of 1.81% during the week.

Analysis review

On July 3rd, international crude oil futures closed down. The settlement price of the August WTI crude oil futures contract in the United States was $67.00 per barrel, a decrease of $0.45 or 0.7%. The settlement price of Brent crude oil futures for September was $68.80 per barrel, a decrease of $0.31 or 0.4%. Investors were concerned that US tariff policies might slow down energy demand, compounded by the expected impact of OPEC production increases.

Cost side: The market price of benzene has fallen. The atmosphere inside the Shandong refinery has been relatively light during the week. East China ports continue to accumulate inventory, with average market performance. Overall, industry players are cautious and continue to monitor crude oil, external market trends, and production and sales dynamics.

Supply and demand side: The supply of styrene has increased, with no new equipment maintenance and some equipment increasing load. In terms of demand, the overall operating rate of downstream 3S is weak, and there is a strong demand for procurement.

Styrene external market: On July 3rd, the closing price of styrene market in Asia increased by $2.5/ton, with a closing price of $890-910/ton FOB Korea and $900-920/ton CFR China.

Future outlook:

Due to maintenance and restart, as well as the commissioning of new facilities, there is significant pressure on the supply side in the upstream benzene market. The current profit of the styrene market is still acceptable, but in the short term, the operating rate will increase and the supply side will be weak. It is expected that the styrene market will operate weakly in the short term.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.