Price Trend

Mainstream domestic prices of styrene continued to decline this week, according to a large number of data monitored by business associations. According to data from business associations, the prices of sample enterprises on Monday (August 05) were 8,500.00 yuan/ton, while on Friday (August 09), the prices of sample enterprises were 8,300.00 yuan/ton, a decline of 2.35%, down 31.26% from the same period last year.

II. Market Analysis

Products:

The market price of styrene fell this week. Internationally, as of Thursday (August 08), the Asian styrene market closed down, while the Asian market FOB Korea fell 7.5 to 970-985 U.S. dollars per ton and CFR China fell 7.5 to 1,000-1015 U.S. dollars per ton. Domestically, on August 05, East China Styrene closed at 8,500 yuan/ton and 8,250-8,400 yuan/ton on August 9, with a drop of up to 250 yuan/ton. The above price is Zhangjiagang’s canning price. On August 05, South China Styrene closed at 8,900 yuan/ton and delivered at 8,600-8,650 yuan/ton on August 9, down by 300 yuan/ton. The above factory delivered the price.

Industry chain:

Upstream, this week’s crude oil prices continued last week’s sharp decline, this week’s decline of 9.15%. Pure benzene prices are affected by crude oil. This week, prices reversed last week’s rise and fell sharply, by 2.33% this week. Ethylene continued its momentum last week, rising 1.43% this week. On the downstream side, PS and EPS declined slightly, PS declined 0.68% and EPS declined 0.77%. Downstream enterprises have a general start-up rate, downstream buying is not active, and the market for styrene has fallen.

Industry:

Overall, this week’s styrene market prices have fallen, the decline has increased, most domestic enterprises have reduced prices and promoted sales, downstream mainstay low demand, spot maintains the “buy-up-not-buy-down” mentality, wait-and-see aggravated, some market holders profit-taking, short-term gathering, the current market temporarily consolidated a slight decline in consolidation.

3. Prospects for the Later Period

International oil prices and energy prices have fallen continuously this week. Domestic enterprises are stepping up inventory and trading is flat. Styrene is expected to be dominated by low-level consolidation next week.