1、 Price trend

According to the monitoring data of business news agency, the mainstream price of styrene in China stopped falling and rebounded this week, showing an overall upward performance. The price of sample enterprises was 670.000 yuan / ton on Monday (January 25), and 6883.33 yuan / ton on Friday (January 29), with an increase of 2.74%, and a decrease of 4.84% compared with the same period last year.

2、 Market analysis

Products:

This week, the styrene market rebounded, the overall upward performance. East China on January 25: East China styrene closed at around 6700 yuan / ton. On January 29, East China styrene closed at 6850-6900 yuan / ton, with a slight increase of 150-200 yuan / ton. The above is the can price of Zhangjiagang. On January 25, South China styrene closed at 6900-6950 yuan / ton for delivery, and on January 29, South China styrene closed at 7100 yuan / ton, up by 200 yuan / ton.

Industrial chain:

The trend of international crude oil is basically stable, driving the price of pure benzene and ethylene to run smoothly, and the production cost of styrene remains stable. However, the profit margin of styrene is good, and the cost support is still weak. Downstream PS, EPS prices rose slightly, ABS prices fell slightly. This week, the port inventory continued to show a small accumulation state. With the approaching of the Spring Festival holiday, the downstream factories’ intention of outsourcing gradually weakened, and the market demand showed poor performance. This week, the average operating rate of domestic styrene plants rose to 82.66% from 78.97% last week, up 3.69%. Shengyuan raised the load, Xinpu, Zhejiang Petrochemical and Anqing Petrochemical resumed full load production, and domestic styrene supply is expected to further increase. On the downstream side, although it still maintains considerable profits and some goods are expected to be prepared in the market before the Spring Festival, downstream enterprises mainly digest rigid demand contracts and low orders, and their demand for spot goods is low. In addition, downstream enterprises gradually reduce production before the festival, and there is great uncertainty in returning to the market after the festival, which further weakens the demand for styrene.

3、 Future prospects

On the whole, there is no strong support point in the whole styrene market, and the supply is gradually recovering. The market is willing to replenish goods at falling prices for the holidays, and the current inventory levels of the upstream and downstream are at a low level. It is expected that styrene will be mainly sorted out in a weak shock next week, with the price of 6800-7000 yuan / ton. The market needs to pay close attention to the trend of crude oil price.