SunSirs: Weak Demand, Styrene Market Declined
October 12 2022 09:19:44 SunSirs (John)
Price trend
The styrene market fell on October 11. Shandong's styrene production price was 9,325.00 RMB/ton, down 1.06% from the previous trading day and down 5.33% year on year.
Analysis review
According to the data of SunSirs, recently, the spot price of styrene declined in shock. International crude oil futures closed lower, and the focus of pure benzene market rose. However, the inventory of ports in East China rose, and domestic supply also increased. The pressure on styrene inventory was high. Some downstream manufacturers were expected to stop production and reduced production, and the demand was reduced. The spot market of styrene was weakening.
Market outlook
Downstream demand for styrene spot is weak, and the styrene market is expected to decline mainly in the short term.
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