On January 29, the closing price of the styrene market in Asia increased by USD 15 per ton, with closing prices at USD 1000–1010 per ton FOB Korea and USD 1005–1015 per ton CFR China. PriceSeek analysis of styrene, with a long-short rating of +1.5: Spot prices of styrene in Asia closed up by USD 15 per ton, with FOB Korea quoted at USD 1000–1010 per ton and CFR China at USD 1005–1015 per ton, indicating tight supply-demand conditions in the spot market, driven by strong demand or reduced supply, which pushed prices higher. Combined with futures market data, the main styrene contract 2603 on the Dalian Commodity Exchange closed at CNY 7913 per ton, up CNY 123 from the previous day, with open interest increasing by 9757 lots. This reflects the futures market’s positive response to the spot price rally, as investors anticipate further price increases, indicating strong bullish sentiment. Therefore, a rating of +1.5 is assigned, signifying a relatively strong positive impact, with both spot and futures prices expected to continue rising.
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