On March 19, the overall styrene market fell. Crude oil fell sharply, pure benzene fell along with the trend, ethylene price was firm, and the cost side moved down. Due to the strong price of raw materials, the price of styrene dropped sharply, the profit of styrene was quickly compressed to near the theoretical cost, and the shock finishing of styrene at night did not bring good to the spot styrene market. This week, the speed of port going to the warehouse was accelerated, which supported the price of styrene. However, with the resumption of production of early maintenance devices and the launch of new production capacity, the domestic supply increased. On the downstream side, ABS continued to decline, and some EPS factories had obvious inventory pressure, resulting in insufficient market gas. To sum up, under the expectation that the export is not well supported and the supply is increasing but the demand is low, it is expected that the styrene market will still be in the shock consolidation stage after the rapid rise and fall in the short term.
Today, the price of styrene in East China was lowered to around 8400-8450 yuan / ton. The price is around 8400 yuan / ton in Northeast China and 8950-9050 yuan / ton in South China.
| PVA |