January 28 — Recently, Sinochem Quanzhou's 450,000-ton/year styrene unit has restarted; PetroChina Tarim Petrochemical (Phase II) air separation unit was successfully started up at one go, laying the foundation for the full commissioning of the 1.2 million-ton/year ethylene project. Chempricehub's analysis of styrene, with a long-short score: -1. The restart of Sinochem Quanzhou's 450,000-ton/year styrene unit increases market supply, exerting downward pressure on spot prices, with significant bearish factors. Considering the recent upward trend in styrene futures contracts (e.g., 2605 closing price of 7,646 yuan/ton, up +60), the release of new capacity may restrain future gains, with rising risks of oversupply, scoring as generally bearish (-1). Ethylene, long-short score: -1. The full commissioning of PetroChina Tarim Petrochemical's 1.2 million-ton/year ethylene project will significantly boost ethylene supply, creating bearish pressure on spot prices. Using polyethylene futures (e.g., 2605 closing price of 6,967 yuan/ton, up +73) as a proxy indicator, although the current market is relatively strong, the new capacity may exacerbate supply-demand imbalances and limit price upside, scoring as generally bearish (-1).