According to the Commodity Analysis System of Shengyi Society, the styrene market has seen a slight increase this week. The average price at the beginning of the week was 6792 yuan/ton, and the average price over the weekend was 6850 yuan/ton, with a weekly increase of 0.85%.

News: On January 8th, international crude oil futures rose. The settlement price of the February WTI crude oil futures contract in the United States was $57.76 per barrel, an increase of $1.77 or 3.2%. The settlement price of Brent crude oil futures for March was $61.99 per barrel, an increase of $2.03 or 3.4%.
Cost wise: The pure benzene market has been weak and volatile this week. Recently, there is an expected increase in pure benzene supply, coupled with high port inventories and weak demand. It is expected that the market for pure benzene will continue to fluctuate within a certain range in the short term.
Supply and demand side: The supply of styrene remained stable this week, and port inventories remained high. Downstream ABS load remains stable, PS load increases, and EPS load decreases seasonally. The direct downstream production of styrene does not change much, and there are more seasonal fluctuations.
Styrene external market: On January 8th, the closing price of styrene market in Asia increased by $2.5/ton, with closing prices of $850-855/ton FOB Korea and $860-865/ton CFR China.
Market forecast: Recently, the styrene market has been significantly boosted by news reports, with strong support from crude oil. It is expected that the styrene market will experience strong fluctuations in the short term.