According to the Commodity Market Analysis System of Shengyi Society, the price of styrene in Shandong was 9533.33 yuan/ton on July 1st and 9521.67 yuan/ton on July 12th, an increase of 0.94%. The current price has increased by 26.67% 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 mainly fluctuated in the past three months, with a slight increase in the recent market trend. International oil prices have risen, cost support is good, styrene inventories have decreased rapidly, and equipment loads are low. There is an expectation of further supply decline, and the styrene market transactions are positive, leading to an upward trend in the market. At present, the transaction price of styrene in Jiangsu region is between 9660-9750 yuan/ton.

Cost aspect

Recently, the overall trend of pure benzene has continued to decline. At present, the inventory of pure benzene ports continues to rise. The inventory of pure benzene ports in Jiangsu Province 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. The downstream maintenance equipment for pure benzene has increased, and it is expected that inventory will rise in July and August. As of July 12th, the mainstream spot price of pure benzene in Shandong market is 8750 yuan/ton. At present, there is a trend of bottoming out and rebounding in the pure benzene market, and it is expected that the price of pure benzene will mainly rise slightly in mid to late July.

Supply side

There were many maintenance visits to the styrene plant in July. The inventory of styrene at ports in Jiangsu Province was 35900 tons, a decrease of 13100 tons or 26.73% from the previous inventory of 49000 tons. Styrene inventory remains low, and domestic supply remains at a low level, which is favorable for the styrene market. Under the current profit situation, the enthusiasm of production enterprises to start production is limited, and it is expected that there will be little pressure on styrene supply in mid to late July.

Demand side

Recently, the three major downstream producers of styrene have seen two increases and one leveling off. Among them, the EPS market is stable, with large fluctuations in manufacturer quotes and poor downstream demand. The market has a strong wait-and-see atmosphere, and transactions are average. In early July, domestic ABS prices showed a narrow upward trend. The overall increase in the upstream three materials is relatively small, and the cost support for ABS is generally firm and stable. The ABS polymerization plant is operating steadily with a slight decrease, and there is ample supply of goods on site. There is a slight expectation of a contraction in future supply, but from the overall loss of production capacity, the change in supply pressure may be limited. The demand side has weak demand, and the off-season market trend is evident, resulting in weak trading. Overall, it is expected that the ABS market will maintain a consolidation trend in the short term. The PS market is fluctuating and rising. The mainstream price of GPPS (polyphenylene sulfide) in the East China market is between 10000-10300 yuan/ton, and the mainstream price of HIPS (polystyrene) is between 10100-11600 yuan/ton.

According to the styrene data analyst of Shengyi Society, the current styrene port inventory is low, and the shutdown of styrene plants has reduced the burden significantly, resulting in a decrease in supply expectations. However, weak downstream demand may suppress the rise of styrene, and Shengyi Society analysts predict that the styrene market will mainly rise slightly.