Price trend

According to the bulk data monitoring of SunSirs, the mainstream price of styrene in Shandong rose this week. At the beginning of the week, the price of the sample enterprises of the business club was 9,733.33 RMB/ton, and the price of the sample enterprises at the weekend was 10,050.00 RMB/ton, an increase of 3.25%. The price was up 0.50% year-on-year.

Analysis review

The price of styrene market fluctuated and rose this week. From the monitoring data of SunSirs, it can be seen that the price of styrene has fluctuated recently. The price rose slightly this week, and had risen for five consecutive weeks. The international crude oil price continued to rise, the price of pure benzene rose slightly, the cost support of styrene was well. Some downstream construction improved slightly, maintaining just-needed purchases, styrene market transactions were acceptable, and prices continued to rise.

In terms of raw materials, the pure benzene market continued to rise this week. As the main refinery was expected to reduce production, coupled with the continuous decline in port inventories, the industry expected that the domestic supply of pure benzene would be tight in May, coupled with the good shipments of local refining companies during the holiday, the market continued to rise after the holiday, and prices continued to rise. Crude oil rose sharply this week, the price of pure benzene in the external disk was relatively high, and the cost-side support was strong. Boosted by multiple positives, discussions in the pure benzene market were active during the week.

On the downstream side, the three major downstream sectors of styrene were mixed this week. The domestic PS market price was stable, and the price on the 9th was 10,616.67 RMB/ton.

The domestic EPS price made up for the increase. The ex-factory price of ordinary materials was 11,100-11,200 RMB/ton, and the fuel resistance was 12,000-12,100 RMB/ton. Crude oil fluctuated at a high level, and the cost support was better. It is expected that domestic EPS prices may be on the strong side in the short term.

The domestic ABS market price was stable this week, and the price on the 9th was 14,200.00 RMB/ton. Compared with the previous period, the price was stable. Merchants followed the market, and the current sales were general.

Market outlook

The international crude oil market is expected to rise, and styrene is likely to follow the trend of crude oil. Overall, if raw materials rise next week, the styrene market will follow the rise.

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