China Styrene Industry Chain Prices Rose in Q1
Styrene industry chain prices went up in China in Q1 amid improving supply-demand fundamentals, which was followed by higher profits and operating rates. By comparison, the prices are predicted to gradually soften in Q2, mainly taking cues from increasing supply.
Q1 Review
Price:
In Q1, the industry chain prices increased. Thereinto, the rises in prices of products close to the upstream sector were larger. This was mainly because international crude oil prices pushed chemical feedstock prices up, and the Arctic Blast in the U.S. and the earthquake in Japan also drove the chemical feedstock market up. Therefore, the price rises transmitted from the upstream sector to the downstream sector. In addition, favorable supply-demand fundamentals were another price driver for the benzene market.
Table 1 Q1 Styrene Industry Chain Monthly Average Price Comparison
Unit: RMB/mt
Dec |
Jan |
Feb |
Mar |
Mar change from Dec |
Mar change from Jan |
|
Benzene |
4,401 |
4,582 |
5,736 |
6,440 |
+46.33% |
+40.55% |
Styrene |
7,315 |
6,816 |
8,384 |
8,968 |
+22.60% |
+31.57% |
EPS |
9,226 |
8,650 |
10,124 |
10,757 |
+16.59% |
+24.36% |
PS |
9,151 |
8,679 |
9,879 |
9,972 |
+8.97% |
+14.90% |
ABS |
16,439 |
15,145 |
16,629 |
17,704 |
+7.70% |
+16.90% |
...
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