Styrene Market Soared after the Holiday
China’s styrene market had witnessed a stark increase after the National Day holiday, mainly tracking the upward trend in crude oil market. As of October 11, the prevailing price in Jiangsu market read RMB 10,050/mt, up by RMB 650/mt or 7% from RMB 9,400/mt on Oct 8. Meanwhile, the prices of all industrial products also trended up.
Styrene price has rose to RMB 10,000/mt mark, is there any possible for it to continue to rise? Whether the rising trend in the industrial chain and the current situation of styrene fundamentals can sustain in the future?
Industrial Chain Price Comparison before and after the Holiday
From the table above we can see that the price increase shows a declining trend from upstream to downstream, which means the margins of downstream products are squeezed to a certain degree. But currently, the three major downstream products still enjoy moderate margins.
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