On January 29, Lihuayi Weiyuan Chemical Co., Ltd. announced the latest styrene price at 7,700 yuan/ton, an increase of 100 yuan/ton compared to the previous trading day. PriceSeek's analysis of styrene indicates a bullish-bearish score of 1. The spot price of styrene rose by 100 yuan/ton to 7,700 yuan/ton, reflecting tight market supply or increased demand, which is favorable for spot prices. In the futures market, the main styrene contract 2603 closed at 7,785 yuan/ton on January 28, up 81 yuan, with a change in open interest of -320, suggesting cautious market sentiment but an upward price trend. The spot price increase may further drive up futures prices, particularly supporting near-month contracts such as 2605 (closing at 7,646 yuan/ton, up 60 yuan), as the narrowing gap between spot and futures prices reflects an improvement in fundamentals.
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