Oct 14: Houthi attacks on Saudi energy facilities heightened market concerns over supply risks, driving international crude oil prices higher. NYMEX WTI November futures closed at $95.09/bbl, up $0.95/bbl (+1.01% WoW); ICE Brent December futures closed at $106.06/bbl, up $0.37/bbl (+0.35% WoW). China INE Styrene December 2026 futures rose by CNY 14.5 to CNY 746.5/ton during the day session but fell by CNY 17 to CNY 729.5/ton in the night session.
On Oct 14, trading in the Asian styrene USD market was moderate, while RMB-denominated prices remained stable. The USD market closed steady. FOB Korea settled at $1,480–$1,490/ton (average unchanged); CFR China settled at $1,420–$1,430/ton (average unchanged). Unit: USD/ton.
On Oct 14, theoretical margins compared to the previous trading day showed that integrated plants saw theoretical production-sales profits increase by CNY 144 to CNY 2,694/ton; non-integrated plants saw theoretical losses decrease by CNY 114/ton to -CNY 470/ton.
Core Logic: Crude oil has been trending high recently. Yesterday, styrene prices fluctuated within a range as bulls and bears held opposing views.
| Product | Region | Oct 13 | Oct 14 | Change |
|---|---|---|---|---|
| Crude Oil | Brent Dec | 105.69 | 106.06 | +0.37 |
| Ethylene | CFR NE Asia | 1130 | 1130 | 0 |
| Pure Benzene | East China Market | 10730 | 10800 | +70 |
| Styrene | Jiangsu Market | 11225 | 11395 | +170 |
| Notes: | ||||
| 1. Units: Brent crude in USD/bbl; CFR NE Asia ethylene in USD/ton; Pure benzene and styrene in CNY/ton. | ||||
| 2. Prices for pure benzene and styrene represent the closing average of mainstream markets. | ||||
| 3. All RMB prices in the table are spot exchange rates including tax. | ||||
| 4. Change rate refers to week-on-week variation. |
Styrene: With crude oil maintaining high levels recently, styrene prices experienced range-bound fluctuations yesterday due to balanced bullish and bearish forces. Port inventories remain low, creating a tight spot supply situation. However, downstream resistance to high raw material costs may limit further price upside. In the short term, styrene is likely to continue oscillating at elevated levels.
| Data Type | Previous Period | Current Period | Change Rate | Trend |
|---|---|---|---|---|
| Jiangsu Port Inventory (10k tons) | 4.73 | 3.96 | -16.28% | ↗ |
| South China Port Inventory (10k tons) | 3.1 | 4 | +29.03% | ↘ |
| Operating Rate | 63.29% | 64.44% | +1.25% | ↘ |
| Sample Enterprise Inventory | 12.7 | 15.02 | +18.27% | ↘ |
| Notes: | ||||
| 1. All data in the table represents weekly styrene statistics. (↘ indicates downward trend expectation; ↗ indicates upward trend expectation) | ||||
| 2. Styrene Jiangsu port inventory is released before 15:00 on Monday of the current week. | ||||
| 3. Styrene East China port inventory is released before 17:00 on Monday of the current week. | ||||
| 4. Styrene operating rate is released before 18:00 on Thursday of the current week. | ||||
| 5. Styrene sample enterprise inventory is released before 17:00 on Thursday of the current week. |
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