Styrene prices fell this week. According to data from business associations, the price of sample enterprises on Monday (July 15) was 8966.67 yuan/ton, and on Friday (July 19), the price of sample enterprises was 8666.67 yuan/ton, a decline of 3.35%, which was 22.65% lower than that of the same period last year.
II. Market Analysis
The market for styrene fell this week. On July 15, East China Styrene closed at 8900-9000 yuan/ton, and on July 19, East China Styrene closed at 8600-8750 yuan/ton, down 300 yuan/ton. The above is Zhangjiagang’s canning price. On July 15, South China Styrene closed at 9,100 yuan/ton for delivery, and on July 19, South China Styrene closed at 8,800 yuan/ton, down 300 yuan/ton for delivery from above factories. In July, the arrival of styrene increased, and the stock of East China’s styrene port rose. However, the enthusiasm for on-site delivery did not increase. This week, the price of styrene continued to be weak and fell.
Upstream pure benzene continued to be depressed due to the sharp drop in international crude oil. This week, the price of pure benzene remained stable at 5220.20 yuan/ton, without giving styrene cost support. Downstream PS price is stable, EPS is affected by the decline in styrene prices, weak turnover, less on-site, cautious industry mentality, price drop, styrene business mentality is empty, yield shipment, styrene prices fell sharply.
3. Future Market Forecast
Upstream pure benzene prices fluctuated or maintained stable or slightly declined by international crude oil prices, downstream purchasing gas was flat and just needed. In July, imported styrene shipments began to increase and gradually entered the domestic market. Port stocks were expected to accumulate, and styrene manufacturers did not have negative production plans for the time being. Costs fell and supply increased gradually. The impact, business analysts believe that: in the short term, styrene prices fell mainly. The market should pay more attention to the guidance of the external market and the trend of bulk futures.