Lead: Recently, the weekly average price of styrene in the Jiangsu market has trended upward overall. High-end spot transactions in Jiangsu were recorded at 7,840 yuan/ton, with low-end transactions at 7,375 yuan/ton, resulting in a price spread of 465 yuan/ton. Raw material cost support is relatively strong, and the short-term supply-demand fundamentals are marginally improving. However, after a sustained period of price increases, downstream buyers show a clear lack of willingness to chase higher prices, and terminal forward orders have not shown improvement, weakening the upward momentum. It is anticipated that East China styrene spot prices will face high-level downward pressure next week, though the weekly average price will still be higher than this week's. The main trading range is expected to be 7,600-8,100 yuan/ton.
Costs Steadily Rise, Styrene Market Moves Up Overall
Recently, the weekly average price of styrene in the Jiangsu market has trended upward overall. High-end spot transactions in Jiangsu were recorded at 7,840 yuan/ton, with low-end transactions at 7,375 yuan/ton, resulting in a price spread of 465 yuan/ton. During this period, crude oil and pure benzene prices continued to rise, steadily pushing up raw material costs and significantly boosting market confidence. On the supply side, the styrene market experienced a reduction, with port inventories declining, strengthening fundamental support. Downstream end-users showed a generally weak willingness to chase higher prices, but just-in-need restocking activities continued. Overall, multiple positive factors such as rising costs, reduced supply, and port destocking dominated market trends, effectively offsetting negative factors like sluggish downstream new orders and unclear future expectations. During the period, the styrene market showed an overall trend of volatile upward movement, with a significant surge in the latter part.
Cost Pressure Increases, Supply Side Slightly Contracts
During the week, the styrene supply side contracted slightly, with the production decline mainly attributed to both unit maintenance and cost pressure. Dushanzi Petrochemical's styrene unit was shut down for maintenance during the period, coupled with widespread cost-induced production cuts across the industry, leading to periodic output losses. Together, these factors caused the total output and industry operating rate to decline slightly week-on-week. In this period (July 3-9, 2026), the total output of domestic styrene enterprises was 325,500 tons, down 13,400 tons from the previous week (June 26-July 2, 2026), a decrease of 3.94% month-on-month. The overall industry capacity utilization rate was 65.10%, down 2.66% month-on-month.
Reduced Ship Arrivals, Jiangsu Port Stock Slightly Decreases
As of July 6, 2026, the total inventory at Jiangsu styrene port sample terminals stood at 106,800 tons, a decrease of 7,000 tons compared to the same period last week, or -6.15%. Commercial volume inventory was 78,300 tons, a decrease of 5,500 tons from the previous period, or -6.56%.
From June 29 to July 3 (7 days total), the total arrivals of styrene at Jiangsu social storage via vessel, pipeline, and truck was 26,000 tons, compared to 37,200 tons during the same period last year (7 days). During this period, off-take was 33,000 tons, compared to 24,500 tons during the same period last year.
Based on incomplete statistics: For July 6-12 (7 days total), current information suggests that domestically produced styrene in early July will primarily prioritize delivery against downstream contracts. Arrivals at port storage areas are expected to be relatively low. Downstream just-in-need demand is expected to recover and correct slightly in the short term. However, spot demand remains weak, and port off-take is expected to remain steady. In the short term, Jiangsu styrene port inventories are likely to see a slight destocking.
Styrene: This week, the domestic styrene market continued to strengthen, with spot prices rising significantly. On the cost side, pure benzene maintains its destocking pace. Although downstream just-in-need restocking is nearing its end, spot average prices still have room for a slight increase, providing solid cost support for styrene. On the supply-demand front, non-integrated production units in the industry face significant loss-making pressure, prompting enterprises to continue implementing output cuts and load reductions, leading to a contractionary trend on the supply side. Downstream industries provide bottom support through just-in-need demand, with overall demand slightly improving at the margin. Domestic factories maintain a stable production and shipment pace. It is expected that the main port inventory in East China will continue its destocking trend next Monday. Overall, raw material cost support is relatively strong, and the short-term supply-demand fundamentals are marginally improving. However, after a sustained period of price increases, downstream buyers show a clear lack of willingness to chase higher prices, and terminal forward orders have not shown improvement, weakening the upward momentum. It is anticipated that East China styrene spot prices will face high-level downward pressure next week, though the weekly average price will still be higher than this week's. The main trading range is expected to be 7,600-8,100 yuan/ton.
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