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Styrene has limited upside space

 Last Update: 2021-11-27
 Source: Internet
 Author: User

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sae 30 oil

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Severe oversupply

From the perspective of cost, the upward momentum of the crude oil market has been significantly weakened recently

As the Spring Festival approaches, the downstream procurement demand for styrene is better, and the mainstream downstream production and sales still maintain a certain profitability, which will bring benefits to the market

Spot oscillates up

Since late December 2020, the trend of styrene disk has shown a V shape

Internationally, prices in the Asian market are showing an upward trend, mainly because non-integrated device companies have turned losses into profits and brought certain support to the market

Basis keeps returning

The styrene market has started to rebound since the beginning of 2021.

Keep profitable downstream

At present, only the ABS industry in the three downstream markets maintains a high operating rate.

In summary, the recent styrene futures market has shown an overall upward trend, but we expect the overall increase in the later period to be limited

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