Will styrene continue to rise?
Created on 01.28
Affected by political turmoil in multiple South American countries, international oil prices have risen, coupled with some styrene production enterprises entering a shutdown and maintenance phase. In January, spot styrene prices continued to rise and broke through the stage high point; however, since January 26th, the price movement has weakened and the downward trend has officially begun.
As the Chinese Lunar New Year approaches, downstream production enterprises will gradually enter a phase of shutdown and production stoppage in early February, further weakening the market's support for the rise of styrene; However, there is still uncertainty in the political situation of major oil producing countries in the Middle East and South America, and it is difficult for international oil prices to significantly decline in the short term, which provides some support for styrene prices. Overall, it is expected that the price range of styrene will be between 1050-1100 US dollars/ton in early February, and will fall back to 900-1000 US dollars/ton in mid February. The overall price in February is expected to show a slight downward trend.
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