March styrene market saw a significant increase

March 31 news

According to the commodity analysis system, the styrene market in March saw a significant increase, with the average price at the beginning of the month at 7,636 CNY/ton and at the end of the month at 10,560 CNY/ton, representing a 38.29% increase in price over the month. The styrene market in March was significantly affected by macro factors. At the beginning of the month, the war in the Middle East affected oil and gas production and supply, causing international oil prices to surge sharply. The listed prices for pure benzene from major refineries in China were adjusted upward multiple times, leading to an increase in styrene prices. Additionally, in March, there were both maintenance and restarts of styrene plants, resulting in a slight reduction in overall supply. Downstream industries had largely resumed operations, but due to high costs, the increase in demand was limited.

Figure: P-value Curve for Styrene Products