卓创资讯：Affected by funds and news factors, styrene prices initially fell then rose

This week, styrene prices initially declined and then rose. As of the close on February 4th, the average price in Jiangsu market was 7,930 yuan/ton, down 10 yuan/ton from January 28th. The earlier decline was partly due to a synchronized drop in the domestic commodities market, and partly because XinYang Technology’s 300,000-ton/year plant restarted earlier than expected, increasing supply and putting downward pressure on prices. The subsequent rise was also driven by a rebound in bulk commodities, combined with later-than-expected production start times for products from Tianjin Bohua and SinoChem Quanzhou, as well as positive news of new export transactions. Looking ahead, Tianjin Bohua and SinoChem Quanzhou are expected to produce products next week. As the Spring Festival holiday approaches, downstream demand may weaken significantly, and the weakening supply-demand fundamentals could exert downward pressure on prices. Currently, the accumulated inventory during the Spring Festival holiday trading may be lower than in previous years, and macroeconomic expectations after the holiday remain optimistic. In the short term, styrene is likely to fluctuate and consolidate amid a tug-of-war between weak fundamentals and strong expectations. (Zhuochuang Information)