According to the commodity analysis system of Shengyi Society, the styrene market slightly rose this week, with an average price of 8640 yuan/ton at the beginning of the week and 8656 yuan/ton over the weekend, an increase of 0.19% during the week.

News: Crude oil has fluctuated and risen this week. On February 21st, the settlement price of international crude oil futures closed slightly higher. The settlement price of WTI crude oil futures in March rose by 0.32 US dollars, or 0.44%, to 72.57 US dollars per barrel. Brent crude oil futures for April closed up $0.44, or 0.58%, at $76.48 per barrel.

On the cost side: Pure benzene has slightly declined this week, with poor shipments from Eastern refining companies and market promotions resulting in further price reductions. The price of pure benzene in Sinopec’s refineries in East and South China remains stable. The spot price of pure benzene in East China is consolidating at a high level. International crude oil futures closed higher, but confidence in the pure benzene market remains strong.

Supply and demand side: styrene production remains at a high level, port inventory has decreased but remains high, downstream 3S has resumed work one after another, EPS production has rebounded, and demand has increased.

Market forecast: The current pressure on styrene inventory remains, and supply remains loose. The cost support is strong, but the demand is weak and the upward trend is weak. It is expected that the short-term market trend of styrene will fluctuate within a certain range.