Price Trend
Mainstream domestic prices of styrene rose first and then fell this week, according to a large number of data monitored by business associations. According to data from business associations, the prices of sample enterprises on Monday (Sept. 16) were 9066.67 yuan/ton, and on Friday (Sept. 20) the prices of sample enterprises were 8800.00 yuan/ton, a decline of 2.94%, a decline of 24.81% over the same period last year.
II. Market Analysis
| PVA 1799 (PVA BF17) |
Products:
This week, styrene market price rose first and then fell, and the market supply is in good condition. On Sept. 16, the closing price of styrene in East China was about 9000-9100 yuan/ton, while on Sept. 20, the closing price of styrene in East China was about 8700-8800 yuan/ton, down about 300 yuan/ton. The above price is Zhangjiagang’s canning price. On September 16, South China Styrene closed at 9,200 yuan/ton for delivery, and on September 20, South China Styrene closed at 8,900 yuan/ton for delivery, down 300 yuan/ton for delivery from above factories. This week, the market price of styrene rose first and then fell back. The market supply situation is good. The main reservoir area in East China has sufficient styrene stock. Domestic maintenance of styrene factories gradually restored supply. This week’s oil market prices rose sharply, leading to a rise in styrene prices at the beginning of the week. Near the weekend, the supply of styrene in the market was saturated, while the enthusiasm of downstream picking-up decreased, and the high-end prices gradually fell, leading to a decline in domestic styrene prices after this week’s rise. Recently, the market has been profitable in both holding and production links, but there is no support after the rapid rise, and the market has fallen back and consolidated.
Industrial chain:
| PVA FIBER |
The upstream crude oil market rose sharply this week, with strong news on the periphery. Both ethylene and pure benzene showed strong trends this week, which supported the production cost of styrene. Some downstream enterprises are actively picking up goods in the early period, and the stock of styrene is relatively sufficient. In addition, the environmental protection inspection before National Day will reduce the demand for styrene. The above situation will lead to the increase of bearish sentiment in the Styrene Market and the consecutive decline in prices until the weekend.
3. Prospects for the Later Period
Styrene analysts believe that in the current market situation, the situation of crude oil price rise may slow down, the extent of crude oil rise is limited, and downstream demand for small and medium-sized enterprises still has room to fall, the overall market buying support is insufficient, terminal digestion pressure. At the same time, domestic styrene overhaul factories have been reworked one after another, and domestic supply has increased, which will further increase the stock of styrene market. Styrene prices are expected to fall slightly next week.
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