In March, the price of styrene dropped from its high point, rebounded at the end of the month, and fell as a whole

Market review: after the high point of styrene market fell in March, it rebounded at the end of the month and still fell overall. According to the monitoring of business news agency, the price of styrene at the beginning of the month was 9783.33 yuan / ton, which fluctuated all the way to March 22 and fell to the low point of 8100.00 yuan / ton. From March 23 to the end of the month, the price of styrene rebounded all the way. On March 31, the price of styrene was 8533.33 yuan / ton. However, the overall price of March still fell, with a decrease of 12.78% at the end of the month compared with the beginning of the month.


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At the beginning of this month, the crude oil rebounded strongly, the bulk commodities were all positive, the pure benzene and ethylene also rose strongly, and the cost side was stimulated. In addition, the styrene inventory in the port was still at a historical low level, the export orders continued to trade, and the US dollar price also played a supporting role at a high level. As a result, the styrene spot price recovered at a high level and then hit a new level on March 8 As high as 9616.67 yuan / ton, after March 8, with the recovery of peripheral parking devices, domestic export shipment slowed down, and export orders decreased significantly. Although the wharf inventory continued to decline, the decline was less than expected. In addition, downstream and terminal demand delayed to cash, the profit of styrene was exhausted, and the long position of futures EB05 was reduced. At the same time, the short position was increased, and the futures price fell rapidly Empty sentiment appeared to guide styrene spot to continue to callback in the next month. Around March 22, crude oil fell sharply, which helped styrene fall to near cash flow. With strong support from the cost side, styrene price stopped falling and rebounded. With strong expectation from the cost side, closing at the end of the month, goods preparation during the Qingming holiday, and tight spot supply in April, market Bulls’ confidence was boosted, and styrene futures rose at night, which led to the rise of spot price The price rebounded to around 8533.33 yuan / ton.


Future forecast: business community analysts believe that crude oil is still expected to pick up in the later stage, pure benzene at the cost side is basically good, ethylene is temporarily stable, and styrene cost support is acceptable. On the supply side, although the new production capacity has already produced products, there will be more maintenance of domestic styrene plants in April, and the new production capacity will be offset by the reduced production capacity. The domestic supply may have limited increment, and the pressure is not big. In addition, the import volume of terminals will maintain the low level of the contract. The overall operating rate of the downstream is acceptable, and the demand for styrene remains rigid, but the demand side has not recovered. Overall, under the support of cost, the downward space of styrene is insufficient. If the downstream demand improves, styrene will be given good support. It is expected that styrene will still run with strong vibration in the short term.

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