Styrene Downstream Demand Falling in Off-peak Season?
China’s styrene market has been in a downward trend since August, which is in line with the plunge in crude oil, the weakness in macro economy, as well as the decline in downstream demand.
There are varieties of downstream products of styrene, among which EPS, PS and ABS are the three main downstream products of styrene, whose consumption of styrene together accounts for 70% of the total.
It can be seen from Chart 1 that the run rate of EPS industry declined notably from the second quarter of 2021; that of PS industry fell slightly in July following a V-shaped trend in the second quarter; and that of ABS industry dropped significantly from June.
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