Introduction to Styrene: Morning Analysis of Styrene Market on March 19

Introduction to Styrene: Yesterday, the domestic styrene market was reorganized and operated, the upstream crude oil was strong, the styrene decline was supported by buying on the low side, and the external policy was good. Under the guidance of the market weakness, the support force was sought, but the inventory pressure continued to restrict the speculation atmosphere, the price rebound was limited, and the pure styrene and ethylene were weak and stable, the profits of styrene production enterprises were good, and the domestic part was good.

Installation overhaul is basically over, downstream industries mostly maintain just needed purchasing, and high inventory still needs to be reduced. At present, we are concerned about the impact of Asian equipment overhaul on imports from March to April. At present, high inventory has not been resolved, and the market continues to shake and consolidate. Future forecast: the decline of inventory will take time for the time being. In the beginning of the peak demand season, there will be support at the low point. We should pay attention to whether the terminal demand can significantly reduce the digestion of port inventory, and whether the reduction of VAT rate will promote the recovery of downstream industry demand remains to be seen.