Apr Styrene Supply and Demand Forecast
Supply
China’s styrene output growth is projected to be lower than expected due to the unexpected unit shutdown and production reduction. In April, China’s domestic styrene output is expected to be 1,164.5kt, up 0.25% M-O-M and 15.63% Y-O-Y. In March and April, overseas styrene units are in a turnaround period. The operating rate at overseas styrene units is at a low ebb under the background of high costs. Therefore, the import volume of styrene in China will remain short.
Mar-Apr China Styrene Unit Maintenance Schedule
Overseas Styrene Unit Maintenance Schedule
Demand
The downstream consumption volume is expected to inch down in April.
In April, the consumption of styrene from the seven downstream industries will be 960.9kt, up 1.92% Y-O-Y. PS enterprises will extend the production cut, reducing the overall supply. Moreover, ABS units will enter maintenance period, so the ABS output will also drop.
According to incomplete statistics, China will export about 120kt of styrene in April, up 9% M-O-M.
The newly added downstream units will bring limited boost to styrene consumption. Anhui Haoyuan Chemical’s PS unit will be put into production in April. However, the EPS units at Anqing Xingda New Materials and Ningbo Longli Juneng New Materials are initially projected to come online in April, but they are both postponed at present.
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