Styrene back pressure is good

Under the guidance of the refinery's price cuts, on September 9th, the price of Shell's styrene core customers in Zhonghai was lowered by RMB 250 (t price, the same below). The South China market styrene closing price of 10,900 to 10,950 yuan (sent), compared with the closing price of the previous month fell 200 yuan, keeping up with the decline in the East China market. Since late August, the cumulative decline in styrene reached 800 yuan. Looking at the market outlook, there are no positives in the upstream and downstream, and the styrene backs are crushed by the enemy and “golden nine silver ten” hopes, and the downturn will continue.

Lower raw materials support weakened the return of the Mid-Autumn Festival holiday, the styrene main raw material benzene market wait-and-see atmosphere is heavy, although Sinopec listed prices remained stable, but most market participants are slightly pessimistic view of the outlook, sales pressure. Low prices in North China and other places continue, and it is expected that the short-term domestic market will continue to decline. The raw material market was weak, and the support for styrene prices was weak.

“The planned parking of Tianjin Daxie plant resulted in about 10,000 tons of petroleum benzene and 20,000 tons of hydrogenated benzene in North China. The pressure on sales in North China increased sharply, and the supply unit of Tianjin Petrochemical Group was overhauled and stored. In addition, there is more inventory in the tank farms and there are many households in small-scale refineries in North China, whose prices are much lower than Sinopec's listed prices, so its sales pressure is heavy, prices are lowered, and it is difficult to form a support for styrene on the cost side.” Director Zhu of the Northeast Petroleum Sales Company said.