According to the Commodity Analysis System of Shengyi Society, the styrene market has seen a slight increase this week. The average price at the beginning of the week was 6636 yuan/ton, and the average price over the weekend was 6688 yuan/ton, with a weekly increase of 0.78%.

News: On December 24th, international crude oil futures remained stable. The settlement price of the February WTI crude oil futures contract in the United States was $58.35 per barrel, a decrease of $0.03 or 0.05%. The settlement price of Brent crude oil futures for February was $62.24 per barrel, a decrease of $0.12 or 0.2%.
Cost wise: The market for raw material pure benzene has slightly increased. From the fundamental perspective of pure benzene, the high inventory in the main port is difficult to reduce, which has dragged down the market mentality. However, the export of styrene has increased, and the market mentality has slightly improved. The United States has intensified its crackdown on oil tankers in a certain country in South America, causing a surge in international oil prices, which may provide some support for the current market.
Supply and demand side: With the restart of some maintenance devices, there is an increase in supply. The price of styrene has risen, downstream losses have intensified, and resistance to high priced raw materials has increased. Downstream follow-up efforts have been made, and EPS industry production has declined. ABS/PS losses have expanded, and procurement follow-up has been cautious.
Styrene external market: On December 25th, the closing price of styrene in the Asian region rose by 7.5 US dollars/ton, with a closing price of 825-830 US dollars/ton FOB Korea and 835-840 US dollars/ton CFR China.
Market forecast: The recent performance of the styrene export market is good, which will boost the market. However, due to the increase in supply and port arrivals, it is expected that the styrene market will fluctuate within a certain range in the short term.