1、 Price trend

In September, the price of styrene fell slowly after rising sharply under the cost support and demand suppression, and rose as a whole. According to the monitoring of business society, the price of styrene was 8787.50 yuan / ton at the beginning of the month, and rose all the way to 9657.50 yuan / ton on September 16, up 9.90%. By September 30, the price of styrene was 9170.00 yuan / ton, down 5.05% from the middle of the month and up 4.35% from the beginning of the month.

2、 Market analysis

This month, the price of styrene fell slowly after rising sharply under the cost support and demand suppression, and rose as a whole. At the beginning of June, affected by the sharp rise in the price of pure benzene, the price of styrene rose sharply. The arrival of pure benzene at East China port was affected by the health incident, some of which were delayed and the port inventory was tight. East China pure benzene rose slightly in the shock due to low inventory and external support. In addition, the maintenance news of downstream styrene Zhejiang Petrochemical in October triggered a sharp rise in styrene futures and spot. Pure benzene was driven by linkage trading, with active buying, rapid price rise, and cost support gave rise to styrene. By the middle of the month, the rise of pure benzene was weak and the price continued to fall. Yangzi BASF and CNOOC Taizhou reduced their load and shut down, resulting in some losses on the supply side. However, the external market prices in the United States and Europe fell sharply due to insufficient demand, resulting in the lack of other options for South Korea’s pure benzene export. Therefore, after the import volume reached 320000 tons in August, the import volume was also high in September. After the worries on the floor, the supply and demand fundamentals of pure benzene turned to sufficient supply, and the negative sentiment increased, causing the rapid decline of prices. With the exchange and rescue of some domestic pure benzene, pure benzene became weaker, driving the correction of styrene price. Near the end of the month, the price of styrene fluctuated and stabilized, the purchasing market before and after the Mid Autumn Festival, and the spot buying sentiment appeared one after another, but the recovery was weak. In addition, under the “energy-saving policy” in Jiangsu, the supply and demand decreased, while styrene plants were restarted in other regions, and the domestic supply increased instead of decreasing. In addition, the port arrival was concentrated and the inventory rose slightly. The fundamentals of styrene itself were still weak, Led to a rebound without support, showing an consolidation situation.

Future forecast: business analysts believe that the correction of pure benzene is temporarily stable, the cost support of styrene still exists, and the falling price space is limited. The styrene maintenance unit is gradually restored, the domestic supply will increase, and the fundamentals of styrene itself still show signs of weakening. Styrene is expected to remain volatile in the short term.