Morning Market Briefing: Styrene

I. Key Focus Points

1. Oct 13: Intensifying conflict between Houthi forces and Saudi Arabia has heightened supply risks, while the market assesses expectations of increased Russian output. International crude oil prices showed mixed movements. NYMEX WTI November contract settled at $94.14/bbl, up $0.40/bbl (+0.43% WoW); ICE Brent December contract closed at $105.69/bbl, down $0.96/bbl (-0.90% WoW). China INE crude oil futures December 2026 (2612) contract rose by 22.5 to 732 RMB/bbl, with the night session gaining 8.6 to 740.6 RMB/bbl.
2. On Oct 13, trading activity in the Asian styrene USD market was moderate. The rise in domestic RMB prices boosted the USD market, leading to a higher close for the day. FOB Korea closed at $1,480–$1,490/ton, with an average price increase of $30; CFR China closed at $1,420–$1,430/ton, with an average price increase of $30.
3. On Oct 13, theoretical margins compared to the previous trading day: Integrated plant operators saw their theoretical production-sales profit increase by 236 RMB/ton to 2,550 RMB/ton; non-integrated plant operators saw their theoretical production-sales loss widen by 69 RMB/ton to -584 RMB/ton.

Core Logic: Crude oil has been trending stronger recently. Styrene fluctuated but strengthened yesterday. Port inventories are low, resulting in a tight spot market, with export discussions ongoing recently.

II. Price List

III. Market Outlook

Styrene: With crude oil trending stronger recently, styrene prices fluctuated but ultimately strengthened yesterday. Low port inventories have created a tight spot market, supported by ongoing export negotiations. In the short term, styrene may trend sideways with a slight upward bias. However, downstream negative feedback and resistance to high raw material costs will likely cap further price increases.

IV. Data List