Price Trend

Styrene prices fell this week. According to data from business associations, the prices of sample enterprises on Monday (September 23) were 8783.33 yuan/ton, and on Friday (September 27) they were 8716.67 yuan/ton, a decline of 0.76%, a decline of 26.23% over the same period last year.

II. Market Analysis

Products:

This week, the market price of styrene is narrow and the market supply is general. On September 23, East China Styrene closed at 8750-8800 yuan/ton, and on September 27, East China Styrene closed at 8750 yuan/ton, down about 50 yuan/ton. The above price is Zhangjiagang’s canning price. On September 23, South China Styrene closed at 8950 yuan/ton and delivered at 8850-8900 yuan/ton on September 27, down by 100 yuan/ton, to above factory delivery price. The styrene market fluctuated narrowly. By Friday, East China’s styrene port was well stocked and the overall supply of styrene increased slightly. Overall, this week, it fell steadily and moderately.

Industrial chain:

Oil prices of upstream crude oil fell this week, ethylene and pure benzene prices fell slightly and rose sharply, and production costs of styrene were weak to support. Downstream enterprises, temporarily maintaining just demand, wait-and-see, still maintained low demand. The supply and demand deadlock is difficult to break, and the market lacks strong support.

3. Prospects for the Later Period

This week, the periphery remained volatile, oil prices fell, and the impact of the periphery on the petrochemical market was mostly negative. Domestic production enterprises have stabilized, following the market downward quotation operation. The market participants’wait-and-see atmosphere has been aggravated. There are weak demand, digestive pressure, weak receiving intention, weakened support for styrene and spread of bearish sentiment in the market. There is no strong support in the styrene market as a whole, and the price of styrene is expected to remain narrow next week.