On the 9th, Wanhua Chemical Group Co., Ltd. reduced the styrene price in East China by 150 yuan/ton, with the latest quotation at 7,950 yuan/ton, and in North China by 100 yuan/ton, with the latest quotation at 7,850 yuan/ton. Sales remained stable. PriceSeek's analysis of styrene indicates a bearish score of -1. Wanhua Chemical's reduction in styrene spot prices—150 yuan/ton to 7,950 yuan/ton in East China and 100 yuan/ton to 7,850 yuan/ton in North China—along with stable sales, suggests ample market supply or weak demand, which is bearish for spot prices. Combined with styrene futures data, such as the closing price of the 2605 contract at 7,529 yuan/ton (down 82 yuan), indicating a downward trend in futures prices, the spot price reduction may further reinforce bearish expectations and negatively impact futures prices.
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