According to the monitoring of bulk data from the Business News Agency, the mainstream price of styrene in Shandong has recently fallen due to shocks. At the beginning of the week, the average price of styrene in Shandong was 8425.6700 yuan/ton, while on the weekend, the average price of styrene in Shandong was 8250.00 yuan/ton, a decrease of 2.08%. The price fell 8.54% compared to the same period last year.

styrene

Recently, the market price of styrene has continued to decline. It can be seen from the above figure that the recent price fluctuation of styrene is mainly small, and the price continues to decline this week. Styrene maintenance devices have been restarted in succession, inventories have risen, international crude oil prices have fluctuated and become unstable, pure benzene market has not fluctuated much, cost support is poor, and styrene spot demand is poor, leading to a decline in the market.

In terms of raw materials, the price of pure benzene decreased slightly this week. On March 13, the price of pure benzene was 7203-7350 yuan/ton (average price: 7276 yuan/ton), while on Thursday (March 16), the price of pure benzene was 7053-7300 yuan/ton (average price: 7176 yuan/ton), down 1.69% from last week and 12.48% from the same period last year. The news in the macro market has exacerbated the pessimistic expectations of the industry for the future, and cargo holders have actively shipped. Downstream buying is insufficient, and the offer is withdrawn. The buying sentiment in the Shandong market is cautious and the transaction is poor.

Downstream, the three downstream markets of styrene fluctuated. At the beginning of this week, the average price of PS was 9333 yuan/ton, while at the end of the week, the average price of PS was 9283 yuan/ton. The price fell 0.51%, down 12.97% compared to the same period last year. The PS market price has steadily declined, the cost center has weakened, support has weakened, and the digestion speed is moderate. The PS price has slightly weakened, some goods are tight, and prices are firm. The overall market transaction is average. The total production of domestic PS in March is expected to reach 370000 tons, a year-on-year increase of 27.58%.

This week, the average price of EPS ordinary materials is 9600 yuan/ton, and the market is stable. The supply of goods on the site is still relatively loose, and the downstream production consumption inventory is dominated. The reference market price of EPS ordinary materials in South China is around 9500-9600 yuan/ton (including tax).

Recently, the domestic ABS market has been stable. According to data monitoring by the Business News Agency, the average price on March 20th was 11825.00 yuan/ton. Previously, the ABS industry had been operating at a high load for more than a month. Due to supply side pressure and fierce competition for new materials, petrochemical plants began to reduce their load independently. Last week, the industry load decreased by 6% compared to the beginning of the month, but the operating rate of 90% is still high. Currently, the supply of goods on the site continues to be abundant, and domestic inventory has accumulated. The factory still has a plan to reduce the burden in the future, and the news has laid a foundation for some spot goods.

In the near future, crude oil is expected to bottom out and rebound, with good support for styrene. Port inventory has been slightly destocked, and short-term volatility in the styrene market is expected to prevail.