Recently, the price of ethyl acetate surged due to the temporary shutdown of major factory units, leading to upward adjustments in prices by factories in other regions. Factories in central China have resumed operations, but there is a certain degree of waiting time for scheduling and loading. With the recent resumption of operations at major factories in Shandong, prices have begun to decline, and there are expectations of increased production capacity. It is predicted that prices will weaken further at the beginning of this week on this basis.
Recently, crude oil and pure benzene have shown a slightly stronger overall performance, providing a certain degree of underlying support for styrene.
As downstream demand increases, supply pressure rises in North China, leading to widespread price hikes. Arbitrage opportunities from East China to North China emerge. Although port inventories rise slightly, the increase in vehicle pickups curbs the magnitude of inventory growth.
Recently, the foreign trade sector has been receiving a succession of positive news, successfully drawing numerous visits from international partners from countries such as Egypt, the UAE, Uzbekistan, Saudi Arabia, and others.
Last week, crude oil prices continued to rise, and coupled with the introduction of related economic policies, the overall market enthusiasm was further boosted. Toluene and xylenes increased simultaneously, leading to a decrease in low-priced resources in the market.
Supported by the raw material pure benzene, acetone prices remain relatively stable. Despite an increase in inventory in East China, the anticipation of reduced supply due to short-term shutdowns at factories in Yangzhou has weakened holders’ willingness to sell at low prices, leading to mostly firm quotes. However, there has been no significant improvement in downstream demand, with activities primarily focused on fulfilling contracts and orders.
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