1、 Price trend
According to the monitoring of bulk data of business agency, the mainstream price of styrene in China rose this week. Last Friday (April 3) the sample enterprise price of the business association was 4700.00 yuan / ton, and this Friday (April 10) the sample enterprise price was 5183.33 yuan / ton, an increase of 10.28%. The price is 37.80% lower than the same period last year.
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2、 Market analysis
Products:
This week, styrene market prices rebounded steadily and rose sharply. On April 3, East China styrene closed at 4500-4600 yuan / ton, and on April 10, 5200 yuan / ton, up about 600 yuan / ton. The above price is Zhangjiagang’s export price. On April 3, South China styrene closed at 4500-4550 yuan / ton, and on April 10, 5100 yuan / ton, up by 600 yuan / ton. The delivery price of the above factories. This week continues to be affected by the expectation of crude oil production reduction. Styrene market participants have a bullish expectation for the future. In the week, styrene got rid of the influence of crude oil and supply and demand, and pulled the styrene price up by the rising sentiment. The buying was positive and the overall trading atmosphere was good. With the resumption of downstream mainstream enterprises, the demand for styrene has gradually increased, and the operating rate of domestic styrene plants has remained at 67.05%, up from the previous few weeks. On the port side, the port inventory is slightly lower than last week, but in the short term, it is difficult to break the situation that the supply of styrene exceeds the demand.
Industrial chain:
Crude oil and futures picked up this week, pure benzene stopped falling and rebounded, and ethylene continued to fall. The price of downstream EPS rose sharply this week, PS rose slightly, ABS fell slightly, and the overall operating rate of downstream enterprises rose. Downstream enterprises maintained a high profit and strong demand for styrene.
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3、 Future outlook
At present, the situation of oversupply is still in progress, and the production profit is showing a positive trend, which will increase the willingness of domestic styrene factories to raise the operating rate, while the port inventory will still be sufficient next week. Although the downstream demand is strong, it is possible to digest the demand in advance. It is expected that the market rally sentiment of styrene market will fall in the short term, closely following the trend of crude oil.
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