According to the commodity market analysis system of Business Society, the mainstream price of styrene in Shandong has fluctuated slightly recently. At the beginning of the week, the average price of styrene in Shandong was 9430.00 yuan/ton. On the weekend, the average price of styrene in Shandong was 9300.00 yuan/ton, a decrease of 1.38%. The price has increased by 11.71% compared to the same period last year.

styrene

Recently, the market price of styrene has fallen. From the above chart, it can be seen that the price of styrene has been mainly fluctuating and consolidating in the past three months, and this week’s market is still fluctuating within a small range. International oil prices have fallen, cost support is poor, downstream demand has not improved, while styrene supply is relatively abundant, inventory decline is slow, market shipping intentions are strong, and the market continues to decline.

In terms of raw materials, the price of pure benzene rose first and then fell this week. On March 18th, the price of pure benzene was 8508 yuan/ton. On Friday (March 22nd), the price of pure benzene was 8542 yuan/ton, a decrease of 0.09% from last week and an increase of 18.22% from the same period last year. The price of pure benzene in East China opened low and rose high, with active low-end transactions and a rebound in market buying. Most refineries in Shandong maintain a shipping mentality and continue to reduce prices and promote sales. After the price drop, the market just needs to follow up, and most businesses are bearish in the future, resulting in overall weak trading.

On the downstream side, the prices of styrene in the three major downstream markets have fluctuated. At the beginning of this week, the average PS price was 9833 yuan/ton, and over the weekend, the average PS price was 9900 yuan/ton. The cost support for PS is poor, and the demand is average. It is expected that the domestic PS (polystyrene) price will mainly fluctuate downward in the short term.

The EPS market remained stable this week, with an average price of 10450.00 yuan/ton for ordinary materials over the weekend. EPS is affected by the upstream pull up, and the market atmosphere has slightly improved. It is expected that the domestic EPS market may experience a narrow range of fluctuations.

The domestic ABS market has been stable recently. Recently, the overall performance of the upstream three materials of ABS has remained stable, moderate, and strong, maintaining support for the cost side of ABS. Petrochemical plant operations continue to decrease, and supply pressure has significantly eased. On the demand side, due to downstream enterprises resuming work and increasing production schedules, ABS consumption has increased. Merchants are attempting to offer higher prices, resulting in strong market momentum. The current ABS fundamentals are generally bullish, and the ABS market may continue to rise in the short term in the future.

In recent times, the global economy has been weak, international oil prices have fallen, cost support is poor, and the supply and demand of styrene itself are temporarily weak. Under the dual negative outlook, it is expected that the short-term volatility and decline in the styrene market will be the main factors.