According to the commodity analysis system of Shengyi Society, the styrene market adjusted narrowly this week, with an average price of 8230 yuan/ton at the beginning of the week and 8226 yuan/ton over the weekend, a decrease of 0.05% during the week.

News: On June 19th, international crude oil futures closed higher. The settlement price of the August WTI crude oil futures contract in the United States was $73.80 per barrel, an increase of $0.3 or 0.4%. The settlement price of Brent crude oil futures for August was $78.85 per barrel, an increase of $2.15 or 2.8%.
Cost aspect: Recently, international oil prices have strengthened due to macroeconomic favorable conditions and geopolitical deterioration, causing crude oil prices to fluctuate widely. Pure benzene production has rebounded, and the supply is relatively wide. The pure benzene market has followed the trend of crude oil to rise widely and then fluctuated slightly.
Supply and demand side: Partial styrene plants have restarted, with both production and capacity utilization increasing month on month, indicating loose supply. In terms of demand, the overall operating rate of downstream 3S is weak, with low profit contraction and high finished product inventory, which has dragged down the demand for styrene.
Styrene external market: On June 19th, the closing price of the styrene market in Asia increased by $5/ton, with a closing price of $940-950/ton FOB Korea and $950-960/ton CFR China..
Market forecast: In the short term, geopolitical uncertainty drives wide fluctuations in oil prices, and styrene is greatly affected by this. Therefore, in the short term, styrene will maintain a high volatility trend.