February 22, 2025

The styrene will leave the market soon

This week was affected by the Christmas and New Year festivals. Styrene's external disk was stable and the domestic styrene trend stabilized. In respect of raw materials, Sinopec Benzene is planned to be raised by RMB 100/t next week, pushing up styrene costs. Since mid-December, styrene production costs have reversed with prices in the East China market, and some markets have been losing money due to traders’ In the second and third months of next year, the US dollar will have good expectations. Reluctant to sell the spot, the East China market will have an inventory of 94,000 tons. At the same time, near the end of the year, terminal funds will be tight. The stock market has not yet emerged, the market is slow, and the current high-end support for styrene is weak. The closing price is around 9850 yuan/ton. The low-end northeast market in North China or the transaction is fair, Beijing and Tianjin to 9650-9850 yuan / ton, the South China market was deserted, the price is strong at 9950 yuan / ton. It is expected that the weakness in the domestic market will remain, but the cost will increase in the market and pre-holiday small-scale procurement. The recent market operating range will be between 9800 and 10,000 yuan/ton.

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