SunSirs: Supply Increased, Styrene Market Declined
November 24 2022 09:15:42 SunSirs (John)
Price trend
The styrene market fell on November 23. The production price of styrene in Shandong was 8,066.67 RMB/ton, down 0.92% from the previous trading day and down 5.93% year on year.
Analysis review
Recently, the spot price of styrene declined in shocks. The US dollar price of styrene in Asia fell, while the price of pure benzene fluctuated at a low level, and the cost support was weak. On the 23rd, the supply of styrene increased, and the downstream purchased on demand. The market transaction was not good. The pressure on styrene shipment was great, and the market fell.
Market outlook
The spot stock of styrene is abundant, and the styrene market is expected to decline mainly in the short term.
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