Styrene

Recent Market Dynamics Intelligence
1. Price Trends
- The domestic styrene market price has recently shown a fluctuating and oscillating trend. The mainstream market price in the East China region fluctuates within the range of 8,500–8,700 yuan/ton, the price in the South China region is around 8,600–8,800 yuan/ton, and the price in the North China region is approximately 8,400–8,600 yuan/ton.
- In the international market, Asian styrene prices are influenced by crude oil prices and regional supply and demand, with the CFR China price at 1,050–1,070 USD/ton, showing slight fluctuations; European and American market prices remain relatively stable, with the FOB US Gulf price at 1,200–1,220 USD/ton and the FOB Rotterdam price at 1,150–1,170 USD/ton.
2. Supply Situation
- The operating rate of domestic styrene plants has fluctuated. Some units have been shut down due to maintenance plans, such as a 300,000 tons/year unit at a major enterprise undergoing a 15-day maintenance, leading to a certain reduction in market supply. However, there are also expectations for new plant commissioning, which may gradually increase supply pressure in the later stage.
- In terms of imports, the volume of recently arrived cargo has remained basically stable, but due to changes in domestic demand, port inventory has shown a trend of first decreasing and then increasing, with East China port inventory currently maintained at around 50,000–60,000 tons.
3. Demand Situation
- Downstream industry demand shows divergence. The operating rate of the EPS (Expanded Polystyrene) industry is maintained at 50%–60%, with stable styrene demand; the operating rate of the PS (Polystyrene) industry is at 65%–75%, providing certain support for demand; the operating rate of the ABS (Acrylonitrile-Butadiene-Styrene copolymer) industry is at 80%–90%, with relatively vigorous styrene demand due to the peak season in industries such as home appliances.
- However, overall, downstream industries have limited acceptance of high-priced raw materials, with procurement mainly based on essential needs, and the market transaction atmosphere is generally average.
4. Cost Aspect
- Crude oil prices have recently fluctuated at high levels, providing strong cost support for styrene. Brent crude oil prices fluctuate in the range of 80–85 USD/barrel, ethylene prices remain relatively stable, with Northeast Asia ethylene prices at 1,000–1,020 USD/ton, and pure benzene prices at 7,500–7,700 yuan/ton, with no significant overall changes on the cost side.

Analysis and Judgment
1. Supply Side: Unit maintenance has led to a short-term reduction in supply, but with the expected commissioning of new plants and the gradual recovery of units under maintenance, supply pressure will gradually emerge, exerting certain pressure on price increases.
2. Demand Side: Downstream industry demand has support, but high raw material prices suppress procurement enthusiasm, with procurement mainly based on essential needs, making it difficult for demand to show significant growth, thus limiting the upward push on prices.
3. Cost Side: Crude oil and key raw material prices remain stable at high levels, providing cost support for styrene prices, but there is certain resistance in cost transmission to downstream, making a significant price decline unlikely.

Forecast
1. Short-term (1–2 weeks): Styrene market prices will continue to maintain an oscillating trend, with price fluctuation ranges of 8,400–8,800 yuan/ton. The impact of supply-side maintenance is still present, demand is supported by essential needs, and the cost side is stable, with bullish and bearish factors intertwining, making it difficult for prices to achieve a clear directional breakthrough.
2. Medium-term (1–2 months): With the commissioning of new plants and the recovery of units under maintenance, supply will increase, while downstream demand is unlikely to increase significantly in sync, potentially shifting the market supply and demand structure to a looser state, with downward pressure on prices, expected to fall back to the 8,200–8,500 yuan/ton range.
3. Long-term (3–6 months): Attention needs to be paid to crude oil price trends, changes in downstream industry demand, and the progress of new plant commissioning. If crude oil prices drop significantly or downstream demand remains sluggish, prices may fall further; if crude oil prices remain firm and downstream demand improves, prices are expected to stop falling and recover, but the overall upward magnitude will be limited, with prices likely fluctuating in the 8,000–8,700 yuan/ton range.