February Styrene Trend Shocks Have Risen, in March Can Still Wind Up?

Data monitoring shows that in February styrene prices in cost support, demand suppression and peripheral factors, showing a high opening retracement, the second half of the rebound overall up trend.

Styrene prices in Zhangjiagang at the beginning of the month in the vicinity of 9070 CNY/ton, to the middle and end of February shock softened to 8790 CNY/ton. After the rebound began to pull up, to 28 Zhangjiagang styrene prices at 9250 CNY/ton.

The price of styrene in Zhangjiagang was at 9,250 yuan/mt by the 28th.

This month, styrene prices in the peripheral factors and pure benzene driven by the overall trend of oscillation has risen. However, the current market supply and demand is relatively poor, the overall trading performance is relatively sluggish.

At the beginning of the month, stimulated by the Spring Festival holiday during the crude oil surge, and some manufacturers take good stock, the market after the festival pure benzene prices are relatively firm, the styrene market price breakthrough up.

However, the good times did not last long, crude oil downward, pure benzene buying quickly turned light, dragging styrene prices fell rapidly.

In the middle of the month, the raw material pure benzene high level to maintain limited time, the cost support performance is flat. Combined with the field supply increment, sufficient supply, downstream plant start-up rate is less than expected, spot demand imbalance, market trading showed a sluggish situation.

In the second half of the month, crude oil rose sharply, pure benzene to follow the rise in the cost of styrene support is relatively strong, the styrene spot market pull up sentiment is strong.

However, the current market supply is relatively adequate, downstream digestion contract-based, the overall market trading performance is poor, the supply and demand side is still in the game state.

In summary: in the plastic small that the influence of peripheral factors styrene cost support is expected to continue, but the downstream resumption of work after the holiday rhythm is slow, demand is difficult to recover in the short term.

Coupled with the styrene domestic market is still expected to accumulate late, more than short game, the styrene market is expected to continue to pull up resistance in March, the overall or show a range of oscillating trend.