On May 28, the styrene market as a whole declined slightly. Crude oil rose, pure benzene and ethylene fell, styrene cost support weakened, styrene decline was greater than cost, theoretical profit margin reduced. With the end of styrene paper delivery in May, the market is expected to buy gas down, coupled with the weakness of futures, which has a certain pressure on today’s spot price. Although the domestic styrene operation rate rose and the styrene supply increased, the wharf inventory was low and the accumulation of wharf inventory was slow. This week, the styrene inventory was 119200 tons, and the spot supply was tight.

Downstream, PS, EPS prices temporarily stable, ABS high down. EPS operation rate is 67%, stable operation, low fluctuation of processing profit. The PS shutdown device has not been restarted, the operating rate remains stable at 71%, and the production is still at a loss. ABS operates at high power, close to 99%, and the production benefit is good. The demand for styrene in the three downstream areas is temporarily stable. To sum up, the short-term styrene cost support becomes weak. In the short term, the wharf continues to go to the warehouse and the inventory remains low. However, with the recent release of production and arrival of imported goods of new devices such as Huatai Shengfu and SINOCHEM Hongrun, the tight spot situation will be relieved in the later stage, and the downstream demand will be temporarily stable. It is expected that the short-term styrene market will still be in the shock consolidation stage after rapid rise and fall.

Today, the price of styrene in Shandong was lowered to around 9750-9800 yuan / ton. The price is around 9800 yuan / ton in Northeast China and 10000 yuan / ton in South China