According to the Commodity Market Analysis System of the Business Society, the mainstream prices of styrene in Shandong have been fluctuating and rising recently. At the beginning of the week, the average price of styrene in Shandong was 8533.33 yuan/ton, while on the weekend, the average price of styrene in Shandong was 8708.33 yuan/ton, an increase of 2.05%. The price has decreased by 3.76% compared to the same period last year.

styrene

Recently, the market price of styrene has increased. From the above chart, it can be seen that the price of styrene has mainly increased in the past two months, and the market has continued to fluctuate and increase this week. International oil prices have risen, cost support is good, styrene inventory is low, and the market is rising.

In terms of raw materials, the price of pure benzene has decreased this week, with Sinopec’s pure benzene price at 7750 yuan/ton (prices in Shandong and Hebei regions are synchronized). The atmosphere in the East China market is poor, and buying and wait-and-see are obvious. In the end of the day, prices rebounded due to the stop of crude oil decline. The trading mentality in the Shandong market is weak, and the intention of refineries to reduce prices and promote sales is obvious, driving the focus of transactions to continue to shift downwards.

On the downstream side, the three major downstream markets for styrene fluctuated slightly. At the beginning of this week, the average price of PS was 9300 yuan/ton, while on weekends, the average price of PS was 9366 yuan/ton, with a price increase of 0.72% and a decrease of 13.67% compared to the same period last year. Crude oil stopped falling and rebounded, while styrene rose overnight, boosting the market atmosphere. Buying sentiment was cautious, and merchants had significant resistance to shipping. The mainstream price of GPPS (polyphenylene sulfide) in the East China market is between 8750 and 9600 yuan/ton, while the mainstream price of HIPS (polystyrene) is between 9300 and 9950 yuan/ton.

The EPS market has been stable this week, and according to the Commodity Market Analysis System of Business Society, the average price of ordinary materials this week is 9775.00 yuan/ton. The terminal profit is meager, there is a clear resistance to high market prices, and the follow-up of buying is limited. The overall transaction is weak, and it is expected that the domestic EPS market may mainly have a narrow and weak trend.

Recently, the domestic ABS market has risen, and the overall high level of upstream three materials in ABS has provided reasonable support for the cost side of ABS. The petrochemical plant started relatively horizontally in the early stage, and market inventory has been partially digested. On the demand side, support is weak, and the overall pattern of weak and rigid demand is maintained. It is expected that the ABS market may enter a narrow consolidation market.

At present, the news shows that the crude oil market is improving and the cost support is good. The unexpected shutdown of the styrene plant will lead to a short-term reduction in domestic supply. Under the dual benefits, it is expected that the short-term styrene market will fluctuate and rise mainly.