From the perspective of styrene’s own supply and demand last week, domestic supply returned to normal levels, with expectations of further incremental growth. Additionally, factory shipments have also resumed stability. On the demand side, the three major downstream industries are struggling to maintain their demand levels.
Last week, the domestic methanol market strengthened. Tight natural gas supplies in the main Middle Eastern markets led to the shutdown of multiple methanol plants, resulting in expectations of a reduction in methanol imports.
Despite a slight weakening in the raw material benzene market, the acetone market remains resilient due to the temporary shutdown of the phenol-acetone plant in Yangzhou and end-of-month inventory replenishment activities. Consequently, inventories in East China have also declined significantly.
Domestic benzene prices remain high and resilient, with stable import arrivals leading to a continuous rise in port inventories.
This week, crude oil prices exhibited wide fluctuations with both increases and decreases observed. As the end of the month approached for toluene and xylene deliveries in the eastern China region, the overall market atmosphere was relatively vibrant.
Wishing you a Merry Christmas filled with joy, love, and peace. Thank you for your support this year. Looking forward to another successful year together.
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