On February 5, the styrene market rose as a whole. Although the price of ethylene fell, the continued strength of crude oil led to the rise of pure benzene price, the support of styrene cost strengthened, and the high consolidation of night futures brought some support to the spot market. In terms of port inventory, the styrene inventory of East China’s main port this week was 109000 tons, an increase of 5500 tons over last week, a month on month increase of 5.3%, and a year-on-year decrease of 51.8%. At present, the main ports in East China are experiencing seasonal accumulation, with 30800 tons of goods arriving next week. The overall arrival volume is at a low level, and the accumulation is less than expected. However, the overall operating rate of domestic styrene is relatively high, which is maintained at 80% – 85%, and the site supply is good. On the downstream side, the start-up of the three major downstream industries is still at a high level, which is conducive to the consumption of styrene in China. Although the start-up of EPS and PS will be significantly reduced near the Spring Festival, the impact of the domestic epidemic this year is relatively small, and the overall profit of the downstream industry is in an advantage. After the year, the downstream plants will start as scheduled, and the demand will recover from the expectation of rapid recovery. In addition, due to the impact of the epidemic, the whole country advocates celebrating the Chinese new year on the spot, and some factories are expected to start work ahead of schedule. Based on the cost boost and low inventory support, it is expected that the market will be stronger in the short term and consolidation may be greater.

Today, the price of styrene in East China increased to around 7100-7250 yuan / ton. The price in Northeast China is around 6850 yuan / ton, and that in South China is around 7300-7350 yuan / ton.