According to bulk data monitoring by Business Society, the spot price of styrene in Shandong fell first and then rose in March. At the beginning of the month, the spot price of styrene in Shandong was 8558.33 yuan/ton, while at the end of the month, the spot price of styrene in Shandong was 8458.33 yuan/ton, a decrease of 1.17%. The price has decreased by 9.54% compared to the same period last year.

styrene

In March, the styrene market price fell first and then rose. From the above figure, it can be seen that the price of styrene has increased and decreased in the past month. The reason for the decline in the middle of the first half of the year was due to the decline in crude oil prices, poor cost support, the gradual restart of styrene maintenance equipment, abundant inventory supply at styrene loading ports, and the main decline in the styrene market. The main reason for the increase in late October is the continued rise in international oil prices, strong cost support, a decrease in styrene port inventory, and acceptable spot transactions. In summary, the styrene market in March was mainly affected by slight fluctuations in costs and inventory.

In terms of raw materials, pure benzene fluctuated and increased in March, with little price fluctuation. On March 1st, the price was between 7000-7200 yuan/ton (average price 7100 yuan/ton); On March 31st, the price was between 7200 to 7300 yuan/ton (average price 7235 yuan/ton). In March, the market price of pure benzene rose in a narrow range, and there were few spot transactions, mainly in the month. The stable prices of the main units have boosted the market, but there is insufficient room for price decline. Some downstream and traders in Shandong are bullish in the future, and they are buying Shandong’s goods normally, with a fair transaction.

On the downstream side, the three major downstream markets of styrene saw mixed fluctuations in March. According to monitoring data from Business Society, the average price of PS brand 525 at the beginning of March was 9433 yuan/ton, and at the end of the month, the average price of PS brand 525 was 9350 yuan/ton, a decrease of 0.88% and a decrease of 12.75% compared to the same period last year. On the supply side, the overall supply of domestic PS is relatively sufficient, and the inventory pressure of petrochemical plants is expected to be high. The pressure on the PS supply side still exists. Demand side: Due to limited downstream demand improvement, the supply and demand side gradually tends to be loose, and the overall market inquiry atmosphere is average, while the trading atmosphere on the market is flat.

According to monitoring data from Business Society, the price of EPS ordinary materials did not change much in March. The average quotation for EPS ordinary materials at the beginning of the month was 9562 yuan/ton, and the average price for EPS ordinary materials at the end of the month was 9550 yuan/ton. At present, the digestion of market supply is slow, and the pressure on merchants to ship is not decreasing, with price reduction sales being the main focus. The wait-and-see atmosphere in the EPS market remains unchanged, and overall transaction performance is poor. It is expected that the domestic EPS market will mainly follow a narrow range consolidation trend.

In March, the domestic ABS market weakened and spot prices fluctuated and fell. Recently, the overall trend of the upstream three materials of ABS has been weak, with average support for the cost side of ABS. The high starting point of petrochemical plants has increased, and the market supply continues to be abundant. The demand side support is poor, the mentality of merchants is weak, and the operation tends to yield profits and take orders. It is expected that in the short term, the ABS market may continue to be weak due to the impact of supply and demand contradictions.

Recently, there is room for a decrease in styrene port inventory and an increase in downstream operating rates. However, the high inventory of downstream finished products has limited support for styrene, and the styrene market is likely to be greatly affected by crude oil. Therefore, the business community expects a slight increase in the styrene market in the short term.