I. price trend
Styrene prices edged higher this week. According to the data of business agency, the price of sample enterprises on Monday (November 25) was 7316.67 yuan / ton, and the price of sample enterprises on Friday (November 29) was 7416.67 yuan / ton, up 1.37%, 10.28% lower than the same period last year.
II. Market analysis
Styrene market rose slightly this week. On November 25, East China: East China styrene closed at 7250-7300 yuan / ton. On November 29, East China styrene closed at 7400 yuan / ton, up about 100 yuan / ton. The above price is Zhangjiagang’s export price. On November 25, South China styrene closed at 7400 yuan / ton, and on November 29, South China styrene closed at around 7500 yuan / ton, up 100 yuan / ton, with the delivery price of the above factories. Styrene market is in a narrow range of volatility consolidation trend, and the rise of international crude oil has a certain boost to the market.
The international crude oil market continued to be positive, and the overall oil price fluctuated upward, giving styrene cost support. The upstream ethylene and pure benzene are slightly consolidated, the downstream PS and EPS prices are stable, the enterprise’s operating rate is good, the factory’s production and sales are stable, and the purchase is on demand. On the whole, with the approaching of December, the amount of arriving styrene will increase, which will bring a certain impact on the supply of domestic styrene market. In the short term, the supply of styrene will increase, but the downstream price is firm, the commencement is good, the capacity of digesting styrene is good, and the acceptance of current styrene price is high. Overall, the styrene market this week forced a small increase, but in December, styrene still has the possibility to touch the cost line below 7200 yuan / ton.
III. future forecast
Styrene Market Consolidation rose slightly, the end of styrene unit overhaul and normal start-up of coal to hydrogen production in Zhejiang Petrochemical Company. Recently, the reforming unit will be opened, and the styrene test run is expected to be put on the agenda. The supply of styrene in the plant is good, and the arrival of goods in East China port is expected to rise. Therefore, the business analyst thinks that styrene may still touch the cost line below 7200 yuan / ton in December. The market should pay more attention to the guidance of the trend of external market and bulk futures to the market.