According to the Commodity Market Analysis System of Business Society, the price of styrene in Shandong was 8000 yuan/ton on January 1st, and 7163.33 yuan/ton on June 30th, a decrease of 10.46%. The highest point of the price market appeared on April 6th at around 8658.33 yuan/ton, and the price fell 17.27% from the lowest point on June 30th.

styrene

The styrene market price fluctuated and decreased in the first half of 2023. From the above figure, it can be seen that in the first half of the year, only January saw an increase in styrene, while February June saw a decline, with the decline far exceeding the increase. The reason for the increase in January is that before the Spring Festival, pre holiday stocking combined with export pickup. Although the downstream is in demand, the purchasing intention is good, which has some support for the market. There may be a slight decrease in port inventory, which is beneficial for the styrene market. The main reasons for the decline from February to June are firstly due to the weak macroeconomic and chemical industry chain, and secondly, the overall downward trend of crude oil. The downstream demand for styrene has a strong sustainability and weak spot demand, making it difficult for costs and demand to support styrene. The decline in styrene market is greater than the increase.

In terms of raw materials, the pure benzene market rose first and then fell in the first half of 2023. The price in January was 6532 yuan/ton, and at the end of the month, it was 6184 yuan/ton, a decrease of 5.03%. The highest point was 7465 yuan/ton on April 19th. The pure benzene market is mainly affected by international oil prices. In the first half of the year, the overall supply of pure benzene in the market was sufficient, and East China ports are expected to continue to accumulate inventory. The overall market is showing a downward trend.

In terms of downstream, the three major downstream markets of styrene showed an overall downward trend in the first half of the year. The decline in APS and EPS reached 10%. The continuous weakness of terminal demand in the three downstream markets has led to poor shipment volume, significant inventory pressure, and a continuous decline in the market, which cannot provide support for the styrene market.

The styrene plant that will be put into operation in the second half of 2023 may be put into operation in the third quarter, and the styrene production capacity will continue to expand. However, the current downstream market demand continues to be weak, and the ability to digest inventory may not be as expected. It is expected that the styrene market will mainly fluctuate and decline in the second half of 2023.