Price trend

According to the commodity analysis system of SunSirs, the styrene market fell weakly this week, with an average price of 8,716 RMB/ton at the beginning of the week and 8,646 RMB/ton over the weekend, a decrease of 0.8% during the week.

Analysis review

News side: Crude oil fluctuated and fell this week. On February 14th, the settlement price of international crude oil futures closed slightly lower. WTI March crude oil futures closed down 0.08 US dollars, a decrease of 0.11%, at 71.29 US dollars per barrel. Brent crude oil futures for April closed down 0.16 US dollars, or 0.21%, at 75.02 US dollars per barrel.

On the cost side: Benzene showed a stronger trend this week, with good shipments from Shandong's local refineries. Shandong LihuaYi's 200,000 ton benzene plant began planned maintenance, and Sinopec's benzene listing price increased by 100 to 7,750 RMB/ton. Benzene prices rose, and the price difference between benzene and styrene further narrowed.

Supply and demand side: The inventory of styrene at the port was still high, and the growth rate of inventory this week has slowed down. The downstream 3S demand growth was limited, and EPS production was at a low level, waiting for further demand release.

Market outlook

As of February 14th, the cost of styrene was high, profits were tight, and the supply and demand sides were weak. There is a possibility of high-level consolidation in the future market of raw materials. It is expected that the styrene market will fluctuate and consolidate in the short term, and we will closely monitor the changes in market costs and supply and demand.

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