On February 6, the latest quotation for styrene from Lihuayi Weiyuan Chemical Co., Ltd. was 7,650 yuan per ton, a decrease of 110 yuan per ton compared to the previous trading day. PriceSeek's analysis of styrene shows a long-short score of -1.5. The spot price of styrene fell by 110 yuan per ton, indicating ample market supply or weak demand, which constitutes a significant bearish factor for spot prices. Combined with futures data, such as the closing price of the styrene 2603 contract at 7,689 yuan per ton, a drop of 50 yuan, and a decrease in open interest by 10,713 lots, it reflects a strengthening bearish sentiment in the market. This decline in spot prices may further drag down futures prices, with short-term downward pressure expected to intensify. It is advisable to monitor inventory changes and downstream demand.
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