According to the Commodity Analysis System of Shengyi Society, the styrene market has been weak and volatile this week. The average price at the beginning of the week was 10140 yuan/ton, and the average price over the weekend was 10120 yuan/ton, with a decrease of 0.2% during the week.

Macro: On April 16th, international crude oil futures closed higher. The settlement price of the May WTI crude oil futures contract in the United States was $94.69 per barrel, an increase of $3.40 or 3.7%. The settlement price of Brent crude oil futures in June was $99.39 per barrel, an increase of $4.46 or 4.7%.
On the cost side, the price range of pure benzene fluctuated within the week. In the short term, there are expectations of a reduction in both domestic and imported petroleum benzene, especially with a continued decrease in imported sources. The domestic supply and demand pattern of pure benzene tends to be strong, which will provide significant support for the price of hydrogenated benzene in the later stage. The market may continue to fluctuate strongly.
Supply and demand side: There were not many domestic device maintenance in April, and some maintenance devices were restarted and delayed, resulting in overall stable supply. Due to the significant increase in raw material prices and strong resistance to high prices downstream, the PS/ABS industry continues to suffer from cash flow losses, resulting in a decrease in load. The increase in export transactions and demand has led to a tight supply of styrene domestically.
Styrene external market: On April 16th, the trading atmosphere in the Asian styrene USD market was relatively flat, with FOB Korea closing at 1350-1370 USD/ton and a stable average price; CFR China received $1310-1330 per ton, a decrease of $5 per ton.
Market forecast: In the short term, geopolitical risks are still fluctuating, and the price trend of styrene is returning to fundamentals. The market lacks the driving force to continue rising, and the styrene market is in a dilemma under high cost and low demand.