1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the styrene market has shown an upward trend this week. On Monday, the price of styrene was 8770 yuan/ton, and on Friday it was 8814 yuan/ton, with a price increase of 0.5%.
This week, the styrene market first fell and then rose, but overall the market trend is upward. This week, the styrene futures market performed well, with a continuous strengthening of the futures to cash basis, and monthly negotiations mainly focused on exchanges. The inventory of styrene in Jiangsu ports has decreased, and the inventory of styrene in South China ports has also decreased. Combined with the decrease in styrene production rate this week, the styrene market has turned from a decline to an increase. As of now, the spot price of styrene in Shandong region is around 8620-8850 yuan/ton.
In terms of raw material pure benzene, pure benzene fluctuated this week. At present, the storage of pure benzene in the port continues to accumulate, and crude oil has fallen but risen in the external market. Market confidence is still acceptable. As of now, the mainstream spot price of pure benzene in Shandong market is around 7320-7350 yuan/ton. It is expected that pure benzene will continue to fluctuate and consolidate in the short term.
Downstream of styrene, the comprehensive support on the cost side of ABS is poor, and the load of ABS polymerization plant is running steadily, resulting in a slight digestion of high finished product inventory. The situation of weak and rigid demand on the demand side has returned, and market trading is weak. The mismatch between supply and demand within the venue has not been effectively improved. Affected by multiple bearish factors, it is expected that the ABS market will mainly operate weakly in the short term in the future.
3、 Future forecast
According to the styrene data analyst from Shengyi Society, pure benzene is currently operating in a volatile manner, with a decrease in operating rates and inventory, and there is currently no pressure. There are many market inquiries, and actual orders are cautious. It is expected that the styrene market will slightly strengthen and consolidate in the short term.
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