October styrene market fluctuates downward in China

October 30th, according to news from China,

According to the commodity analysis system, the styrene market in China experienced a fluctuating decline in October, with the average price at the beginning of the month at 7,120 CNY/ton and at the end of the month at 6,752 CNY/ton, a decrease of 5.17% within the month. The fundamental situation of the styrene market in China was weak in October, with new facilities commissioning and anomalies coexisting, leading to an overall loose supply and high port inventory. The price of raw material pure benzene followed the weak downward trend of crude oil, with limited rebound. The operating rates of the downstream EPS and PS industries slightly increased, providing some support, but there was no significant increase in orders from terminal sectors such as home appliances, resulting in limited market follow-up and low procurement enthusiasm, with the overall demand being mainly rigid.

Figure: P-value Curve for Styrene Products