March 26th News
On March 26th, Lihuayi Weiyuan Chemical Co., Ltd. announced the latest styrene price at 9,750 yuan/ton, a decrease of 650 yuan/ton compared to the previous trading day. Chempricehub analyzed styrene with a long-short score of -1.5. The spot price of styrene dropped by 650 yuan/ton from the previous trading day, a decline of 6.25%, reflecting increased market supply pressure or weak downstream demand, which significantly weighed on spot prices. Combined with the Dalian Commodity Exchange's styrene futures main contract (such as the 2605 contract) falling by 399 yuan to 10,105 yuan/ton on March 25th, the sharp decline in spot prices may exacerbate pessimism in the futures market, leading to reduced open interest and further price pressure. It is expected that the futures market will remain weak in the short term.