Styrene Market: Weekly Outlook

I. Key Focus Areas

1. Oct 16: The conflict between the Houthis and Saudi Arabia continues, compounding supply risks alongside the Russia-Ukraine war, driving international crude oil prices higher. NYMEX WTI November futures rose by $3.44/bbl to $101.41, a week-on-week increase of +3.51%. ICE Brent December futures rose by $3.94/bbl to $109.86, a week-on-week increase of +3.72%. China INE crude oil futures (December 2026 contract) fell by 2.2 yuan/bbl to 723 yuan/bbl during the day session but rose by 16.8 yuan/bbl to 739.8 yuan/bbl in the night session.
2. Oct 16: Trading in the Asian styrene USD market was moderate. Far-month RMB prices saw a slight rise, while the daily USD market closed slightly higher. FOB Korea settled at $1,440–$1,450/ton (average price +$5); CFR China settled at $1,380–$1,390/ton (average price +$5). Unit: USD/ton.
3. Oct 16: Theoretical margins compared to the previous trading day: Integrated plants saw theoretical production-sales profit decrease by 433 yuan/ton to 2,038 yuan/ton; non-integrated plants saw theoretical production-sales losses narrow by 103 yuan/ton to -507 yuan/ton.

Core Logic: Crude oil has been oscillating at high levels recently. Yesterday, increased discount sales of styrene led to a slight narrowing of the monthly spread.

II. Price Table

III. Market Outlook

Styrene: Recent crude oil trends have shown strong oscillation. Increased discount sales of styrene have led to a slight narrowing of the monthly spread. Partial capacity adjustments occurred in South and North China, with industry supply fluctuations expected to remain limited. Port inventories are low, resulting in a tight spot market situation. However, considering downstream negative feedback and resistance to high raw material costs, styrene prices may continue to oscillate in the short term.

IV. Data Table