According to the Commodity Market Analysis System of Shengyi Society, the price of styrene in Shandong was 9521.67 yuan/ton on July 12th and 9475.00 yuan/ton on July 19th, an increase of 0.49%. The current price has increased by 19.81% compared to last year.

styrene

The market price of styrene has slightly decreased this week. From the above chart, it can be seen that the price of styrene has mainly fluctuated in the past three months, and the recent market trend has slightly declined. International oil prices have fluctuated, with a significant decline in the pure benzene market and poor cost support, while the styrene market has risen to a relatively high level. Spot demand is mainly driven by rigid demand, and downstream resistance to high price levels is slightly evident, resulting in a slight decline in the styrene market. At present, the transaction price of styrene in Jiangsu region is 9510-9550 yuan/ton.

Cost aspect

Recently, the overall trend of pure benzene has continued to decline. At present, the inventory of pure benzene at ports in Jiangsu Province continues to rise, with a total inventory of 44000 tons, an increase of 14000 tons or 46.67% compared to the previous period’s inventory of 30000 tons. The downstream maintenance equipment for pure benzene has increased, and it is expected that inventory will rise in July and August. As of July 19th, the mainstream spot price of pure benzene in Shandong market is 8500 yuan/ton. At present, the downward trend of pure benzene market has slightly stopped, and it is expected that the price of pure benzene will mainly decline slightly in late July.

Supply side

In July, there were many inspections of the styrene plant, and the overall production of styrene plants in China was 297000 tons, an increase of 2600 tons from the previous period’s 294400 tons. Styrene inventory has slightly increased, with limited negative impact.

Demand side

Recently, the three major downstream producers of styrene have experienced mixed fluctuations. Among them, the EPS market is stable, with large fluctuations in manufacturer quotes and poor downstream demand. The market has a strong wait-and-see atmosphere, and transactions are average. In early July, domestic ABS prices showed a narrow upward trend. The main terminal demand for ABS is weak. Some home appliance manufacturers are on vacation and have stopped work, resulting in lower overall load levels for downstream factories and weak stocking operations that prioritize basic needs. Last week, traders were forced to sell at high prices under the cover of producers. Currently, the market momentum has returned to calm, and the speed of supply flow has decreased. Overall, the demand side is not providing strong support to the market. The PS market fluctuated and fell. Zhenjiang Qimei PG33 reported 10400 yuan/ton, PH88 reported 10700 yuan/ton, Shanghai SECCO 123P reported 9750 yuan/ton, 622P reported 10550 yuan/ton

The styrene data analyst from Shengyi Society believes that the current pure benzene market continues to decline, with weak cost support and weak spot demand for styrene, resulting in poor market transactions. Shengyi Society analysts predict that the styrene market will mainly experience a slight decline.