The domestic styrene market rose today (October 15), and some manufacturers continued to raise their ex factory quotations. On Monday (October 12), the price of sample enterprises of business agency was 5500.00 yuan / ton, and on Thursday (October 15), the price of sample enterprises was 6000 yuan / ton, an increase of 9.09%, and the price was 25.77% lower than that of the same period last year.
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In terms of cost, crude oil rebounded slightly, pure benzene and ethylene rose slowly, and the overall cost support of styrene remained. In terms of inventory, there were more styrene ships arriving at the main port of Jiangsu this week, but the arrival of styrene in the later period was still on the low side. The port inventory of styrene showed a new low since the Spring Festival, and it is expected to continue to decline. Styrene supply is tight. In terms of styrene futures, the continuous rise of styrene futures led to the general rise of styrene spot market. However, in the early stage, the long-term loss margin of styrene was hovering, the risk of capital pull-up was small, and the resistance to spot price rising became smaller.
On the downstream side, downstream start-up continued to run on a high level, strong rigid demand, demand against the seasonal outbreak, high profits, some downstream prices rose sharply, driving up the price of styrene. According to relevant information, the downstream EPS plants nijiaxiang and Zhuhai rengeng are likely to be put into production in November, and the overall downstream demand for styrene is increasing. Overall, styrene still has room to rise in the short term.
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