Last week, the market entered the pre-New Year stockpiling period, experiencing a trend of falling first and then rising. Coupled with the strengthening of crude oil prices, the price difference between raw materials and styrene narrowed.
Under the persistent pressure of weak supply and demand expectations, the production and sales profits of styrene continued to decline, leading to increased losses for some plants. Consequently, there was an incremental reduction in production from manufacturing facilities. The market witnessed an accelerated rebound at this stage, prompting upstream factories to either substantially increase prices for shipments or close their offers. It is expected that there will be further room for price increases in the subsequent period.
