Styrene Market Prices Fluctuated Higher in April

In April, the mainstream price of styrene in Shandong fluctuated and rose. At the beginning of the month, the price of the sample enterprises of the business club was 9325.00 CNY/ton, and the price of the sample enterprises at the end of the month was 9600.00 CNY/ton, an increase of 2.95%. Prices fell 2.04% from a year earlier.

The market price of styrene fluctuated in April, showing an overall upward trend. As can be seen from the above figure, the price of styrene has risen for four consecutive weeks recently. The lowest price of styrene in April was 9,272 CNY/ton on April 6, and the highest price was 9,728 CNY/ton on April 22, an increase of 5.13%. The rise in the styrene market is mainly supported by the cost, the superimposed port arrivals decrease, the styrene inventory situation is relatively ideal, and the price fluctuates higher.

In terms of raw materials, crude oil prices fluctuated and rose in April, and the market rebounded after the recent decline. Investors weighed the impact of the epidemic and anti-epidemic blockade measures in some Asian countries and regions on the outlook for economic growth and energy demand, as well as the energy supply due to the Russian-Ukrainian war. Oil prices rebounded as expectations tightened. Driven by this, the price of pure benzene also rose in a fluctuating manner. Near the end of the month, the enthusiasm for filling the downstream space increased, the domestic market negotiations rebounded, the pressure on corporate inventory was reduced, and the price rebounded. The recent domestic price of pure benzene is 8450-8550 CNY/ton.

On the downstream side, the three major downstream styrenes rose and fell in April. In April, the domestic PS market was mainly maintained, lacking guidance on news, the market was more wait-and-see, and merchants' offers remained the main, some materials supply increased, and the goods were sold at a small profit. Some sources of goods are affected by logistics, and the arrival of goods is relatively small. According to statistics, the Yuyao market charges 10,500-11,900 CNY/ton for benzene, and 11,900-13,000 CNY/ton for changing benzene. Yuyao market is expected to penetrate benzene or 10500-11900 CNY/ton.

The EPS market fluctuated and fell. At the beginning of the month, the price of the sample companies of the business club was 11,025.50 CNY/ton, and the price of the sample companies at the end of the month was 11,878.00 CNY/ton, a decrease of 1.33%. At present, ordinary materials are 10800-10900 CNY/ton, and fuel resistance is 11800-11800 CNY/ton.

The ABS market was down. At the beginning of the month, the price of the sample companies of the business club was 14,900.00 CNY/ton, and the price of the sample companies at the end of the month was 14,220.00 CNY/ton, a decrease of 4.56%. The overall support of the three upstream materials on the cost side of ABS is generally average. In terms of industry load, some domestic production lines began to be overhauled in the early stage, and the current operating rate of ABS companies has dropped slightly. However, the mentality of the manufacturers is not strong. The epidemic in my country still has a great impact on parts of East China. The logistics and production are affected, which suppresses a certain amount of demand.

Although the international crude oil price rose slightly, the downstream demand is unlikely to increase significantly in the short term, and the market transaction has weakened. Generally speaking, if the raw material level falls in April, the styrene market will follow.