According to the commodity market analysis system of Shengyishe, the mainstream price of styrene in Shandong has recently fallen. At the beginning of the week, the average price of styrene in Shandong was 8300.00 yuan/ton. On the 6th, the average price of styrene in Shandong was 8175.00 yuan/ton. On the weekend, the average price of styrene in Shandong was 8233.33 yuan/ton, with a 1.33% increase from the lowest point to the highest point. The price has increased by 4.63% compared to the same period last year.

styrene

Recently, the price of styrene in the market has dropped first and then increased. From the above chart, it can be seen that the price of styrene has mainly fallen in the past month, and the market has bottomed out and rebounded this week. International oil prices first fell and then rose. In the early stage, the styrene market was affected by costs and fell all the way down. Later, it hit a low point and rebounded. Overall, the styrene market was greatly affected by costs.

In terms of raw materials, the price of pure benzene continued to decline this week, with Sinopec’s pure benzene price dropping at 6800 yuan/ton (prices in Shandong and Hebei regions have also dropped by 400 yuan/ton). But by the weekend, the intention to purchase at low prices in East China was good, and the Shandong refinery’s offer stopped falling. Multiple downstream and traders entered the market to buy, with actual orders increasing in volume and overall transactions improving compared to before.

On the downstream side, the prices of styrene in the three major downstream markets have fluctuated. The domestic PS market continues to decline, with an average PS quotation of 9666 yuan/ton at the beginning of this week and an average PS price of 9600 yuan/ton over the weekend, a decrease of 0.69% and a decrease of 3.36% compared to the same period last year. The cost of PS is weak, and the market supply is sufficient. It is expected that the domestic price of PS (polystyrene) will mainly fluctuate downward in the short term.

This week, the EPS market has fallen, with weakened upstream support and thin terminal profits. Buying follow-up is limited, and overall transactions are average. There is a strong wait-and-see atmosphere on the market, with buying mainly in demand. It is expected that the EPS market will decline in the future.

Recently, the domestic ABS market has slightly declined, and the domestic ABS industry has taken on the high load from the previous period, with an average weekly operating rate of about 75%. Compared with the previous period, it has remained relatively stable. The production of the enterprise is stable, and inventory is steadily increasing. In addition, in November, the new equipment of Ineos Benling was put into operation, and current shipments continue to expand, resulting in a full supply of goods on site. The company’s loss situation continues, with high supply pressure. The supply side’s drag on the spot market continues.

Recently, international crude oil prices have started to rebound, cost support has improved, and styrene port inventories have decreased. Under the dual benefits, it is expected that the short-term styrene market will mainly fluctuate and rise.