On February 3, the closing price of the styrene market in Asia increased by USD 30 per ton, reaching USD 975–980 per ton FOB Korea and USD 975–980 per ton CFR China. PriceSeek's analysis of styrene shows a long-short score of 1.5. The article indicates that on February 3, the spot closing price of styrene in Asia rose by USD 30 per ton to USD 975–980 per ton FOB Korea and CFR China, an increase of approximately 3.2%. This suggests strong demand or tightening supply, which is significantly favorable for the spot market. In the futures market, the main styrene contract 2603 closed at CNY 7,661 per ton, with a settlement price of CNY 7,583 per ton. Although it experienced a slight decline of CNY 10 on the day, the rise in spot prices may shift futures market sentiment toward optimism. The change in open interest, which decreased by 7,846 lots, indicates some short positions being reduced. Coupled with high trading volume (716,053 lots), the market exhibits ample liquidity, and future futures prices may be supported by the upward trend in spot prices. The overall rating is moderately favorable (+1.5), as the increase is significant but not driven by extreme events.
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