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Recently, market participants said that due to the completion and commissioning of some new plants in China, and the production of devices that were interrupted earlier this year will also resume production, the supply of styrene in the Asian market may increase in the second half of the year
.
After European and American supply recovers, styrene trade flows will also change
In the second half of this year, China plans to put into production a new capacity of 3.
6 million tons of styrene, including Sinopec Gulei, Shandong Lihuayi and Zhejiang Petrochemical Phase II projects
.
The capacity expansion is expected to exceed China’s imports of 2.
If the overhaul of installations in Asia is over, if demand growth slows and leads to supply imbalances, prices may fall and production profit margins will decrease accordingly
.
Market participants said: "In order to boost the economy, many European and American terminal product manufacturers have resumed operations, and will therefore withdraw some orders from the Chinese market
A manufacturer said that European demand for styrene may remain strong in the second half of the year, and interest in downstream products will resume growth
.
With the completion of some equipment overhauls, the supply level will tend to be normal
According to sources, as the shortage of supply in the first half of the year is eased, the European styrene market is expected to be more balanced in the second half of the year
.
In March, the Dutch Maasvlakte POSM unit, jointly operated by Covestro and LyondellBasell, unexpectedly shut down, which severely affected the supply in the European market, and caused huge damage to the spot market in particular
The price of styrene in the first half of the year reached a record high in March, and the immediate shipment price reached US$2,489.
25/ton, which was extremely destructive to the industry
.
Market participants said that prices must fall in order for the market to grow sustainably
In the second half of the year, the extent to which US production and stocks are restored will determine the economics of US export of styrene to Northwest Europe, the Mediterranean, and East Asia
.
In the second half of this year, some styrene plants in the United States will plan to overhaul
