What are the key price drivers for ethylbenzene in the Chinese market?

What are the key price drivers for ethylbenzene in the Chinese market?
Ethylbenzene pricing in China is fundamentally a function of its two feedstocks, benzene and ethylene, plus the styrene spread. Recent data show pure benzene remains tight domestically with port inventories near 91,500 tonnes and refinery operating rates at five-year lows, supporting costs. However, July import arrivals are expected to rebound to around 400,000 tonnes, which will ease supply. Styrene, the main outlet, is shifting from tight to loose: production rose 2.64% week-on-week to 326,700 tonnes, while port inventories rebounded 16.96% to 104,800 tonnes after six weeks of draws. Downstream EPS, PS and ABS operating rates are falling, signaling weaker demand. These dynamics suggest ethylbenzene costs stay supported near-term but face downward pressure as the year progresses.