1、 Price trend

Styrene prices have been choppy and stable this week. According to the data of business agency, the price of sample enterprises on Monday (March 2) was 6600.00 yuan / ton, and that of sample enterprises on Friday (March 6) was 6600.00 yuan / ton, a 0% drop, with the price down 20.80% compared with the same period last year.

2、 Market analysis

Products:

This week styrene market price narrow range finishing, market supply is good. On March 2, the styrene price in East China closed at 6450-6600 yuan / ton, and on March 6, the styrene price in East China closed at 6550-6650 yuan / ton. The price rose first and then fell. The above price is the tank price of Zhangjiagang. On March 2, South China styrene closed at 6500-6550 yuan / ton, and on March 6, South China styrene closed at 6500-6550 yuan / ton, stable price, and delivery price of above factories. Styrene market fluctuated narrowly this week, rising in the middle of the week and falling to the level at the beginning of the week at the weekend. As of Friday, the total inventory of domestic styrene factories decreased slightly, on the one hand, due to the fact that factories in East China had low price shipments to reduce inventory this week. On the other hand, with the return to work of the downstream plant of styrene gradually in place, the operation rate of the downstream plant has been increased compared with last week, the demand for styrene in the region has improved, and the transportation has also been greatly improved compared with that before. In terms of port inventory, the styrene port inventory in East China rose. Last week, it arrived at the port for concentration, but the picking up speed did not keep up with the improvement, resulting in a backlog of port goods sources, expecting the downstream load to increase.

Industrial chain:

Upstream crude oil market fell this week, ethylene, pure benzene continued to fall, styrene production cost support weak. In the downstream, EPS was slightly lower and PS was significantly lower, down 2.5%. In terms of the overall operating rate of downstream enterprises, although the operating rate was significantly improved, due to the isolation of workers before returning to work and other factors, the operating rate of downstream enterprises was lower than the normal level before the festival. The demand is still low. The deadlock between supply and demand is hard to break, and the market lacks strong support.

3、 Future outlook

This week, the international oil price and energy continued to fall. Domestic enterprises stepped up inventory removal, and the trading was flat. It is expected that styrene will mainly settle the market at a low level next week.