According to the commodity analysis system of Business Society, the styrene market experienced a slight increase this week. The average price at the beginning of the week was 6,792 yuan/ton, and by the weekend, it had risen to 6,850 yuan/ton, representing a weekly increase of 0.85%.

Figure: Styrene Product P-Value Curve Chart
(Image source: Business Society Commodity Analysis System)

News Highlights:
On January 8, international crude oil futures rose. The settlement price for the February contract of U.S. WTI crude oil futures was $57.76 per barrel, an increase of $1.77 or 3.2%. The settlement price for the March contract of Brent crude oil futures was $61.99 per barrel, up by $2.03 or 3.4%.

Cost Analysis:
This week, the pure benzene market experienced weak fluctuations. Expectations of increased pure benzene supply in the near term, combined with high port inventory and sustained weak demand, suggest that the pure benzene market will likely continue to fluctuate within a range in the short term.

Supply and Demand Dynamics:
This week, the supply side of styrene remained stable, with port inventory staying at high levels. Downstream ABS load remained steady, PS load increased, while EPS load declined seasonally. The operating rates of styrene's direct downstream industries showed little change, with fluctuations primarily driven by seasonal factors.

International Styrene Market:
On January 8, styrene prices in the Asian market rose by $2.5 per ton, closing at $850–855 per ton FOB Korea and $860–865 per ton CFR China.

Market Outlook:
Recently, the styrene market has been significantly boosted by positive news. Supported by the strength in crude oil prices, the styrene market is expected to exhibit strong fluctuations in the short term.