This week, the styrene market first fell and then rose. On October 19th, the average price of styrene was 10830 yuan/ton, and on October 23rd, the average price of styrene was 11340 yuan/ton, with an increase of 4.71% during the cycle and a year-on-year increase of 66.03%.

Macro: On October 22nd, international crude oil futures closed higher. The settlement price of the December WTI crude oil futures contract in the United States was $99.47 per barrel, an increase of $2.32 or 2.4%. The settlement price of Brent crude oil futures for December was $113.17 per barrel, an increase of $4.35 or 4.0%.
Cost aspect: Recently, the market price of pure benzene has fluctuated and fallen. Zhejiang Petrochemical and Hainan Refinery have successively restarted, and the supply of pure benzene has increased. The cost transmission of downstream factories is poor, especially the phenol ketone unit has reduced production significantly. With low port inventory and limited support from later arrivals, the price of pure benzene has fluctuated and fallen.
Supply and demand side: styrene production fluctuated at a low level during the week. Styrene port inventory continues to deplete; The overall operating rate of the demand side three S has fluctuated and increased. Downstream resistance to high prices and profit squeeze have resulted in insufficient support from the demand side.
Styrene external market: On October 22, the closing price of styrene in the Asian region rose by $20/ton, and the FOB closing price in South Korea was $1450-1460/ton. The closing price of CFR China is 1390-1400 US dollars per ton.
Market forecast: The current styrene market inventory is low, and ports continue to reduce inventory, but downstream demand is expected to weaken. It is expected that the styrene market will fluctuate at a high level in the short term.