According to the Commodity Analysis System of Shengyi Society, the styrene market has shown a strong upward trend this week, with an average price of 7870 yuan/ton at the beginning of the week and 8068 yuan/ton over the weekend, representing a 2.52% increase during the week.

News: On June 12th, international crude oil futures closed down. The settlement price of the July WTI crude oil futures contract in the United States was $68.04 per barrel, a decrease of $0.11 or 0.2%. Brent crude oil futures settled at $69.06 per barrel in August, a decrease of $0.41 or 0.6%
Cost wise: Recently, international oil prices have strengthened due to macroeconomic favorable conditions and geopolitical deterioration. Pure benzene has been dragged down by inventory, with a lower increase than crude oil.
Supply and demand side: There has been little change in the start of styrene production this week, with equipment resuming production in June and inventory relatively high. From the demand side, the downstream 3S profit has been restored, and the operating rate remains between 50% -60%, indicating that the demand is still acceptable.
Styrene external market: On the 12th, the closing price of styrene in the Asian US dollar market remained stable, with FOB Korea at 895-905 US dollars/ton and CFR China at 905-915 US dollars/ton.
Market forecast: Currently, crude oil is experiencing a strong short-term rebound, and styrene is greatly affected by crude oil. With the resumption of styrene maintenance facilities in the future, supply pressure has increased, downstream product inventory is high, and the resistance to increasing production has increased. It is expected that the styrene market in the short term will be greatly affected by macro factors and operate in a volatile manner.