Price trend

According to the commodity analysis system of SunSirs, the styrene market had slightly declined last week, with an average price of 7,862 RMB/ton at the beginning of the week and 7,838 RMB/ton over the weekend, a decrease of 0.31% during the week.

Analysis review

News side: On April 24th, international crude oil futures rose. The settlement price of the main contract for WTI crude oil futures in the United States was 62.79 US dollars per barrel, an increase of 0.52 US dollars per barrel or 0.8%. The settlement price of the main Brent crude oil futures contract was 66.55 US dollars per barrel, an increase of 0.43 US dollars per barrel or 0.7%.

Cost side: The domestic benzene market price had fallen. International crude oil futures closed lower, downstream styrene market declined, Shandong refineries lowered their quotes, downstream demand for gas was slightly average, and the market atmosphere was bearish.

Supply and demand side: The supply side was shifting from strong to weak, and some maintenance devices were scheduled to restart at the end of April or early May. Downstream EPS demand mutually warmed up, but FS and ABS were affected by tariff policies, resulting in a buildup of finished products and constraining demand for styrene.

Styrene external market: On the 24th, the closing price of styrene in the Asian US dollar market fell by 15 US dollars/ton, with FOB Korea at 880-890 US dollars/ton and CFR China at 890-900US dollars/ton.

Market outlook

The tariff news had been fluctuating, and the future market for benzene remained weak. The production of styrene is expected to rebound in the future, but the downstream 3S production improvement is limited. Under the influence of multiple factors, it is expected that the styrene market will operate to be weaker in the short term.

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