Core Viewpoint - Styrene prices have experienced a corrective increase, with futures reaching a five-week high and spot prices in Jiangsu rising by 255 yuan/ton, or 4.04%, as of November 19 [1][2] Supply and Demand Analysis - Supply has faced unexpected reductions due to maintenance at Sinopec's 450,000-ton/year facility in Quanzhou, which was caused by upstream equipment failures [1] - Export demand has been positively impacted by supply shortages in Europe, boosting domestic styrene export transactions and market sentiment [1] - The raw material side shows that crude oil prices are stable, while pure benzene is expected to see reduced supply to China due to increased exports from South Korea to the U.S. [1] Market Outlook - The U.S. refining sector's reduced output is not driven by strong demand, raising doubts about the sustainability of this trend [2] - The current market is in a seasonal low demand period, making it difficult for strong styrene exports to continue [2] - The upcoming paper goods delivery week in East China may provide temporary support for styrene prices due to limited liquidity and short-covering needs [2] - After the paper goods delivery concludes, there may be downward price risks for styrene [2]
供需改善苯乙烯价格修复性上涨 但持续性存疑
Xin Hua Cai Jing·2025-11-20 07:19