Price trend

According to the commodity analysis system of SunSirs, the styrene market fluctuates and falls this week, with an average price of 7,936 RMB/ton at the beginning of the week and 7,846 RMB/ton over the weekend, a 1.13% decrease during the week.

Analysis review

On July 17th, international crude oil futures rose. The settlement price of the August WTI crude oil futures contract in the United States was $67.54 per barrel, an increase of $1.16 or 1.7%. The settlement price of Brent crude oil futures for September was $69.52 per barrel, an increase of $1.00 or 1.5%.

Cost side: In terms of crude oil news game, the price of benzene fell more or increased less during the week, and coupled with weak downstream demand for benzene, the price of benzene fell during the week. Continue to monitor crude oil, external market trends, and production and sales dynamics.

Supply and demand side: The styrene plant has experienced a decrease in load and short shutdowns, resulting in a reduction in the supply side, but port inventory continues to increase. In terms of demand, downstream 3S is in a low season of demand, with urgent procurement and insufficient support for styrene.

Styrene external market: On July 17th, the closing price of styrene in the Asian region fell by $5/ton, with a closing price of $885-895/ton FOB Korea and $895-905/ton CFR China.

Future outlook:

The current fundamentals of the styrene market are weak and difficult to change, with some downstream losses expanding and the pressure of high finished product inventory continuing to be reduced. The supply and demand expectations for styrene are weak, and it is expected that the styrene market will operate weakly in the short term.

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