Styrene market price fluctuated and fell in July

According to the bulk data monitoring of business agency, the mainstream price of styrene in Shandong rose first and then fell in July. At the beginning of the month, the price of the sample enterprises of the business club was 10528.57 yuan / ton, and at the end of the month, the price of the sample enterprises was 9375.71 yuan / ton, a decrease of 7.53%. The price increased by 4.26% over the same period last year.




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In July, the market price of styrene fluctuated and fell. It can be seen from the above figure that the price of styrene rose slightly in the first week of the past month, and then fell for three consecutive weeks. The lowest price of styrene in July was on July 27, with a price of 9642.86 yuan / ton. The highest price was on July 6, with a price of 10642.86 yuan / ton, with a maximum decrease of 9.40%. In July, there were many restart of maintenance devices in domestic styrene factories, with sufficient spot inventory, and the downstream demand was less than the styrene supply increment. The weak supply and demand side of styrene suppressed the upward space of styrene. Styrene prices generally showed a downward trend.


In terms of raw materials and crude oil, there was a long short game in crude oil during the month, and concerns about tight supply remained. However, the Federal Reserve and central banks in many countries raised interest rates, intensifying market concerns about economic recession, and crude oil fluctuated widely. As of July 28, Brent fell by $7.67 / barrel, or 6.68%; WTI fell $9.34 / barrel, or 8.83%. The price of pure benzene fell in July. Due to the large number of downstream units put into production in the early stage, and the scale of pure benzene only increased slightly, the continuous supply of pure benzene was tight, domestic trade shipments decreased, and the high-level imports superimposed on the outer plate decreased, and the ports maintained a de stocking state during the month. However, due to the continuous broad decline of crude oil and the significant decline of pure benzene in the external market, the support of external news was weak. In addition, the downstream load reduction, shutdown and maintenance increased, the demand follow-up was poor, and pure benzene was under pressure.


Downstream, in July, the three downstream styrene rose or fell. The domestic PS market weakened in July. The average price of PS ordinary materials at the beginning of this month was 11416 yuan / ton, and the average price of PS ordinary materials at the end of the month was 11283 yuan / ton, with the price falling by 1.17% and rising by 2.89% compared with the same period of the year.


In July, the EPS market was volatile and consolidated. At the beginning of the month, the price of the sample enterprises of the business community was 11425.00 yuan / ton, and at the end of the month, the price of the sample enterprises was 11400.00 yuan / ton, a decrease of 0.20%. In terms of EPS, the epidemic control in East China is weakened, the production situation of domestic downstream factories is acceptable, and the market is relatively stable.


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In July, the domestic ABS market fell, and the spot prices of various brands fell by a large margin. As of July 29, the average price of general-purpose ABS mainstream offer was about 12050 yuan / ton, up or down -8.37% compared with the price level at the beginning of the month. In July, the upstream three materials of ABS cost side showed a poor trend, and ABS cost side support weakened. In the macro aspect, previously, the international crude oil was affected by macro inflation factors such as the Federal Reserve’s interest rate hike, and the price volatility intensified, which was bad for the oil chemical industry chain. In terms of industry load, although the current operating rate of ABS enterprises is forced to fall, the industry load is still high. The on-site supply is still abundant, and the decline of industry load has limited support for the supply side. The current season is in the off-season of the industry, especially the main downstream household appliances and other industries lack of output, and the on-site demand is weak. Merchants cut prices and take orders, and the offer follows the market. At the end of the month, midstream traders have certain receiving operations, and some low-end ex factory offers have been consumed, temporarily raising the spot price.


At present, the domestic supply of styrene continues to increase, and the downstream demand is less than the supply increment of styrene. The weak supply and demand side of styrene suppresses the upward space of styrene. Styrene is likely to follow the trend of crude oil, and the styrene market is expected to fall in the short term.

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