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Recently, a number of industry bodies have released reports saying that due to the expansion of production capacity in Asia and the growth of exports to other regions, the global styrene inventory will gradually increase in the second half of this year
Styrene overcapacity in Asia
Styrene overcapacity in Asia Styrene overcapacity in AsiaPlatts said that in 2022, Asia's styrene monomer production capacity will continue to expand, heading towards a relative surplus
On the demand side, market players are still worried that the Asian polystyrene market will suffer from the impact of the new crown pneumonia epidemic
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There will also be excess supply in the United States and there will be excess supply in the United States
According to S&P Global Commodities Insights data, from January to the first half of May, the operating load factor of styrene in the United States averaged 67% to 69%
On March 31, due to the shutdown of a large number of styrene facilities for maintenance, the price difference between styrene and raw benzene in the United States was as high as 697.
European supply tensions to ease
European supply tightness will ease European supply tightness will easeMarket participants predict that rising energy prices will lead to increased inflation, which will become the biggest factor affecting the styrene market
The spread between European styrene and feedstock benzene fluctuated wildly in the first half of the year, as supply shortages coupled with rising gas prices in Europe affected styrene producers' production margins
A producer said that the downstream styrenic polymer market in Europe is also plagued by uncertainty caused by the conflict between Russia and Ukraine, the new crown pneumonia epidemic and high inflation
