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The supply and demand industry is good for the "return of the king" of styrene

 Last Update: 2022-08-25
 Source: Internet
 Author: User

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In the first ten days of November, the market price of styrene rose again, due to tight supply, and the demand for downstream ABS and PS was still strong

From the perspective of the fundamentals of styrene, the tension between supply and demand has risen from October to November.
A fire broke out in the catalytic reforming unit of LG Chem in Yeosu, affecting the start of the ethylene cracking unit.
The supply of downstream styrene raw materials has been reduced, and the production capacity of 200,000+300,000 tons of styrene has been affected, and the negative capacity has dropped to 55%.
The company also has a PS production capacity of 50,000 tons, EPS production capacity of 100,000 tons and ABS production capacity of 950,000 tons.
According to market sources, due to the lucrative profits of the three downstream industries and the procurement of raw material styrene for production, the recent inquiries and purchases in the Asian market have pushed up the US dollar market, and domestic shipments have also been exported to South Korea, speeding up domestic Destocking of port styrene

At present, the domestic port inventory continues to decline.
The inventory data shows that it has dropped from 267,000 tons before the National Day to 150,200 tons, a decrease of 116,800 tons or 43.
7%, which strongly supports the bullish funds and the spot market

Domestically, all major downstream companies are showing strong performance, and ABS, PS and EPS are also bullish.
With strong downstream demand and strong demand for packaging and household appliances, the operating rate has been actively increased, and downstream products have generally increased.
EPS is generally and The fuel resistance has risen to around 10,000 yuan, ABS is even more stable, and the price is firm and upward, Yuyao market LG Yongxing 121H to 18,900 yuan / ton, Zhenjiang Chimei 757K to 19,600 yuan / ton

With the rise of styrene and the moving average, the spot market is still reluctant to sell, showing a seller's market pattern, and the shorts are mostly filling the shorts or chasing up the replenishment, supporting the spot price to new highs

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