According to the Commodity Analysis System of Shengyi Society, the styrene market fell first and then rose this week, with the main contracts of US dollar and futures rising, driving up spot prices. The average price at the beginning of the week was 6686 yuan/ton, and the average price over the weekend was 6594 yuan/ton, with a decrease of 1.38% during the week.

News: On November 13th, international crude oil futures rebounded after falling. The settlement price of the December WTI crude oil futures contract in the United States was $58.69 per barrel, an increase of $0.20 or 0.3%. The settlement price of Brent crude oil futures for January was $63.01 per barrel, an increase of $0.30 or 0.5%.
Cost aspect: Recently, the pure benzene market has slightly improved, with insufficient downstream orders and continued losses. The enthusiasm for raw material procurement is still not high, but with the price of pure benzene reaching a new low, downstream companies have entered the market at a low price, and the market has rebounded slightly. This week, the market has risen slightly.
Supply and demand side: Affected by poor profits, styrene supply remains weak, and ports maintain regular destocking. From the demand side, EPS and ABS operating rates are around 60% -70%, while PS operating rates are relatively low, resulting in a fluctuating overall operating rate and limited demand pull.
Styrene external market: On November 13th, the closing price of styrene in the Asian region rose by $15/ton, with a closing price of $780-785/ton FOB Korea and $790-795/ton CFR China.
Market forecast: Currently, the overall supply of styrene market is loose, raw materials are fluctuating and consolidating, and demand is entering the off-season. With limited positive support, it is expected that the styrene market will fluctuate and consolidate in the short term.