Price trend

According to the commodity analysis system of SunSirs, the styrene market continued to decline this week, with an average price of 8,170 RMB/ton at the beginning of the week and 7,890 RMB/ton at the end of the week, a decrease of 3.43% during the week.

Analysis review

News side: On April 10th, international crude oil futures fell. The settlement price of the main contract for WTI crude oil futures in the United States was 60.07 US dollars per barrel, a decrease of 2.28 US dollars per barrel or 3.7%. The settlement price of the main Brent crude oil futures contract was 63.33 US dollars per barrel, a decrease of 2.15 US dollars per barrel or 3.3%.

On the cost side: Benzene has experienced a wide decline this week, with a significant drop in international oil prices and downstream styrene futures. The confidence in the  benzene market was insufficient, and prices continued to decline.

Supply and demand side: Affected by the parking of large factories, the operating rate of styrene has declined, and supply side support has strengthened. Downstream 3S was dragged down by inventory, factories were reducing their burden, and demand side support was weakening.

Styrene external trading: On the 10th, the closing price of styrene in the Asian US dollar market rose by 50 US dollars/ton, FOB Korea 900-910 US dollars/ton, CFR China 910-920 US dollars/ton.

Market outlook

Entering the maintenance peak season for styrene in April, there is an expectation of tight supply, and the cost side is affected by tariff policies. Negative sentiment is strong, which is restraining the styrene market. In the future, more attention needs to be paid to the macro policy direction.

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