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 (May 18), the sample enterprise price of the business association was 5266.67 yuan / ton, and this Friday (May 22), the sample enterprise price was 5500.007 yuan / ton, an increase of 4.43%. The price is 35.17% lower than the same period last year.
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2、 Market analysis
Products:
This week, the styrene market price rebounded steadily and maintained stability after a substantial increase. On May 18, the styrene in East China closed at 5300-5400 yuan / ton, and on May 22, 5500 yuan / ton, up 100-200 yuan / ton. The above price is Zhangjiagang’s export price. On May 18, South China styrene closed at 5300-5350 yuan / ton, and on May 22, 5400-5450 yuan / ton, an increase of 100 yuan / ton. The delivery price of the above factories. After this week’s rise in the domestic styrene market, there was a lack of further positive stimulus and the price was stable. Affected by the positive impact of crude oil rise this week, the chemical industry as a whole went well. However, the supply of styrene in the domestic market is still sufficient, and there are few spot shipments. Although the price of downstream styrene rises sharply due to the favorable influence of “one belt and one helmet” in China, the downstream enterprises still mainly digest the early orders and contracts of styrene, which has a limited and short impact on styrene. In addition, the port inventory, this week’s port styrene inventory rose for four consecutive weeks, the spot market supply surplus purchase situation intensified.
Industrial chain:
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The upstream crude oil market strengthened this week, driving the strong trend of ethylene and pure benzene, and the styrene production cost support improved. Downstream ABS prices soared, mainly driven by the hype of helmet demand, which led to higher market sentiment, but in fact, the late rise was weak. EPS and PS prices also remained high. Generally speaking, the downstream enterprises of styrene still maintain rigid demand.
3、 Future outlook
As a whole, the whole styrene market lacks strong support points. In May, the situation of styrene supply surplus still exists, but crude oil has a great impact on the styrene industry chain, and the crude oil price is still likely to rebound. It is expected that styrene will be difficult to rise next week, and will mainly be consolidated in a weak shock, with a price of 5350-5500 yuan / ton. The market needs to pay close attention to the trend of crude oil price.
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