Asian Styrene Market Trend under the strength of f

2022-10-24
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Trend of Styrene Market in Asia under the strength of naphtha

despite the strength of naphtha price on Monday, the opening of Styrene Market in Asia was still stable. On Monday, the spot price of styrene in December was about 390 US dollars/ton FOB South Korea, and the price was about 370 US dollars/ton FOB South Korea. With the tightening of China's waste paper import policy. Due to the rise in the price of upstream naphtha, traders are cautious about short selling in the styrene market, in case they cannot find samples and cheaper shipments to change their situation. Some traders have maintained a short-term shortage of shipments in December

however, the upstream and downstream polyethylene market is still depressed. With the sluggish demand for derivatives PS, EPS and abs/san, the market tone of styrene has gradually become bearish. The seller is in trouble. On the one hand, given that prices continue to fall, there is pressure to reduce inventories. On the other hand, many people hope that prices can be supported, pointing out that profits are thin and it is difficult to cover production costs. Therefore, there is little room for the price of styrene to rise

last week, the price of Asian benchmark naphtha was 190.25 US dollars/ton CFR Japan. Traders believe that short-term decline is better than rebound for the current price rise

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