According to the Commodity Analysis System of Shengyi Society, the styrene market saw a slight increase this week, with an average price of 7568 yuan/ton at the beginning of the week and 7594 yuan/ton over the weekend, representing a 0.34% increase during the week.

News: On August 21st, international crude oil futures continued to rise. The settlement price of the October WTI crude oil futures contract in the United States was $63.52 per barrel, an increase of $0.81 or 1.3%. The settlement price of Brent crude oil futures for October was $67.67 per barrel, an increase of $0.83 or 1.2%.
Cost wise: Pure benzene has fluctuated slightly this week. As the end of the month approaches, downstream procurement is coming to an end, and the pressure on intermediaries to ship is increasing, resulting in a downward shift in the focus of transactions. Overall, with the increase in import volume and the production of new production capacity, the demand side is struggling to keep up, and the fundamentals are weak, resulting in a sluggish rise in the pure benzene market.
Supply and demand side: The profit of styrene is still acceptable, with high production and supply maintaining a high level. There are no new parking facilities added this week, and the downstream 3S production load has increased. However, high port inventory limits the rise of styrene.
Styrene external market: On August 21st, the closing prices of the styrene market in Asia remained stable, with closing prices of $880-890/ton FOB Korea and $890-900/ton CFR China.
Market forecast: The current fundamentals of the styrene market have limited driving force, coupled with general support from international oil prices. Without significant changes on a macro level, it is expected that the styrene market will experience weak fluctuations in the short term.