1、 Price trend

On February 23, the overall styrene market rose slightly. The mainstream quotation of styrene today was 9400.00 yuan / ton, up 100 yuan / ton or 1.08% from 9300.00 yuan / ton yesterday (February 22). On the cost side, crude oil continued to rise sharply, and the price of pure benzene rose sharply. Today’s mainstream price of pure benzene was 6450.00 yuan / ton, up 80 yuan / ton or 1.26% from 6370.00 yuan / ton yesterday (February 22). Styrene cost side support is strong. In terms of operating rate, the operating rate of styrene in China is 87.86%, which is at a medium high level. However, the inventory pressure of production enterprises is not great. The main port of East China last week’s inventory reached 168000 tons. Although the social inventory of styrene is rising, the overall inventory is lower than the market expectation. In the near future, with the follow-up of market speculation and demand for just needed goods, the port is expected to open Go to the library. Downstream, with the rise of styrene price, the downstream PS and ABS factories have a strong price. Although the production and marketing profits of some enterprises are affected by the sharp rise of styrene, the mainstream downstream production and marketing still maintain a good profit, and with the end of the Spring Festival holiday, the downstream starts one after another, providing buffer support for the rapid rise of styrene market.

To sum up, the fundamental support of styrene is still strong, but it rises too fast, so we need to pay attention to the downstream acceptance. It is expected that the price of styrene will still be stronger in the short term.