Shandong styrene market price increases

According to the Commodity Market Analysis System of the Business Society, the mainstream prices of styrene in Shandong have been fluctuating and rising recently. At the beginning of the week, the average price of styrene in Shandong was 9158.33 yuan/ton, while on the weekend, the average price of styrene in Shandong was 9716.67 yuan/ton, an increase of 6.10%. The price has increased by 0.17% compared to the same period last year.





Recently, the market price of styrene has increased. From the above chart, it can be seen that the price of styrene has mainly increased in the past two months, and the market has continued to rise this week. The international oil price has risen, the pure benzene market has followed suit, and cost support is good. The inventory of styrene ports in East China continues to be low. As the Double Festival holiday approaches, downstream companies are actively stocking up, market transactions are positive, and the styrene market is rising.


In terms of raw materials, the price of pure benzene has increased this week, with Sinopec’s pure benzene price at 8800 yuan/ton (prices in Shandong and Hebei regions have also increased by 950 yuan/ton). The East China market continues to rise, with sporadic spot transactions on the exchange, mainly through monthly transactions. Downstream customers are cautious in pursuing high priced raw materials, resulting in insufficient transactions. An unplanned shutdown of a polymerization factory in Shandong led to bearish market buying, coupled with a slight decline in high-end pure benzene production in East China within the day, resulting in insufficient market follow-up momentum and weaker transaction volume.


Downstream, the three major downstream markets for styrene have risen. At the beginning of this week, the average price of PS was 9566 yuan/ton, while at the weekend, the average price of PS was 9700 yuan/ton, with a price increase of 1.39% and a decrease of 7.32% compared to the same period last year. The cost of PS is supported, and transactions are improving. It is expected that in the short term, the domestic PS (polystyrene) market price will mainly fluctuate and tend to be strong.


This week’s EPS market has risen. According to the Commodity Market Analysis System of Business Society, the average price of ordinary materials at the beginning of this week was 10059.00 yuan/ton, and the average price of ordinary materials this week was 10250.00 yuan/ton, an increase of 1.95%. The terminal profit is good, and the market transactions are positive. It is expected that the domestic EPS market will mainly show a strong trend.


Recently, the domestic ABS market has risen, and the upstream three materials of ABS have strengthened, providing strong support for the cost side of ABS. Petrochemical plants have started construction at a high level, with smooth shipments and significant market inventory digestion. The demand side support has strengthened, and the trading volume has fully entered the traditional peak season level of “Golden Nine Silver Ten”. However, the increase in spot prices may affect the willingness of terminals to receive goods, and it is expected that the ABS market may continue to operate at a high level in the short term.


At present, the news shows that the crude oil market has softened from a high level, and the cost side is still acceptable. Baofeng and Zhejiang Petrochemical have new production capacity of 800000 tons of styrene units, and there is an expectation of an increase in styrene inventory. It is expected that the short-term styrene market will be mainly weak and organized.

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