According to the commodity market analysis system of Shengyishe, the price of styrene in Shandong was 9533.33 yuan/ton on July 1st, and 9468.33 yuan/ton on July 9th, an increase of 0.37%. The current price has increased by 28.24% compared to last year.

styrene

The market price of styrene has slightly increased this week. From the above chart, it can be seen that the price of styrene has been mainly fluctuating in the past three months, with a slight increase in the recent market trend. The main reason for the increase is that the inventory of styrene has decreased rapidly, and the unit load is low. There is an expectation of further decline in supply, and the styrene market is trading actively, resulting in an upward trend in the market.

Cost side

Recently, pure benzene has continued to decline overall. At present, the pure benzene port inventory has slightly increased. The pure benzene port inventory in Jiangsu region is 30000 tons, an increase of 9000 tons from the previous period’s inventory of 21000 tons, and a decrease of 83.9% from the same period last year. Most refineries in Shandong have lowered their offers. As of July 9th, the mainstream spot price of pure benzene in the Shandong market is 8800 yuan/ton. Compared to the beginning of the year, pure benzene is currently accumulating inventory, and the market is relatively under pressure, with limited support for styrene.

Supply side

In July, there were many inspections of styrene plants, and the inventory of styrene ports in Jiangsu Province was 35900 tons, a decrease of 13100 tons from the previous period’s inventory of 49000 tons, a decrease of 26.73%. The inventory of styrene remains low, and domestic supply remains at a relatively low level, which is beneficial for the styrene market. Under the current profit situation, the enthusiasm of production enterprises to start production is limited, and it is expected that the supply pressure of styrene will not be significant in mid to late July.

Demand side

Recently, the three major downstream markets of styrene have seen two increases and one level. The EPS market is stable, with downstream high prices resisting. Production is mainly focused on digesting the inventory of finished products in the early stage, and the market has a clear wait-and-see atmosphere. New order transactions are weak. Domestic ABS prices are rising. ABS finished product inventory is relatively high during the same period, but demand has increased, market transactions are good, and the market has slightly increased. The PS market is fluctuating and rising. The mainstream price of GPPS (polyphenylene sulfide) in the East China market is between 9750-11000 yuan/ton, and the mainstream price of HIPS (polystyrene) is between 10100-11600 yuan/ton.

According to the styrene data analyst from Shengyi Society, the current styrene port inventory is low, and the production of styrene units has decreased significantly, leading to a decrease in supply expectations. However, due to the drag of the cost side pure benzene market, the increase may be limited. Shengyi Society analysts expect a slight increase in the styrene market.