According to the Commodity Analysis System of Shengyi Society, the styrene market continued to decline this week. The average price at the beginning of the week was 9560 yuan/ton, and the average price over the weekend was 9300 yuan/ton, with a decrease of 2.72% during the week.

Macro perspective: On May 14th, international crude oil futures almost closed flat. The settlement price of the June WTI crude oil futures contract in the United States was $101.17 per barrel, an increase of $0.15 or 0.2%. The settlement price of Brent crude oil futures in July was $105.72 per barrel, an increase of $0.09 and 0.1%.
On the cost side: This week, the pure benzene market has weakened and fallen, and the overall supply and demand expectations for pure benzene are still tight. Port inventories continue to decline. At present, there are still significant differences between the United States and Iran on the content of the peace talks, geopolitical fluctuations, short-term strong oil prices, and support for pure benzene reserves. However, due to the drag of demand, the upward trend is weak, and we are paying attention to the dynamics of the US Iran situation.
Supply and demand side: Some units are operating at reduced loads, leading to further expansion of losses in the styrene industry. The overall operating load of downstream 3S has slightly decreased, and the market mentality is weak.
Market forecast: The international situation is currently unclear, and oil prices will remain high and fluctuate. It is expected that the short-term market price of styrene will fluctuate with the high cost side, and attention should be paid to the geopolitical situation and changes in equipment.