Sinopec raises styrene price continuously

wallpapers Industry 2020-12-09

reporter learned that Sinopec's unified marketing companies have recently raised the price of styrene. Taking Sinopec East China as an example, Sinopec East China sales company raised the ex factory styrene price by 300 yuan / ton to 9800 yuan / ton as of the 13th, an increase of about 3.16%. This is the sixth consecutive increase in Sinopec East China this month, with a cumulative increase of 1400 yuan / ton, or about 16.67%. According to the

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data, in March, the annual maintenance of styrene plants in Japan and South Korea began, and the overseas goods failed to arrive in Hong Kong on time due to various reasons, and the overall import volume was lower than the normal level. Moreover, due to the raw materials and the reasons of the plant itself, the domestic styrene plants had a lot of unplanned load reduction. Under the condition of tight overall supply in March, the rising trend of styrene was established. From February 26 to March 25, the average price of styrene was 8226 yuan / ton, up 15% compared with the same period of last month.

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. However, in April, there were still a lot of maintenance work in Asia, and the quantity of ocean going goods continued to be lower than expected. Analysts believe that although the domestic styrene plant has a high profit, due to the constraints of ethylene procurement difficulties, the output can not be synchronously increased, the tight supply pattern may not be reversed, and the styrene growth trend may be maintained. At the same time, the loss of styrene maintenance in Japan and South Korea continued to be high, and continued to limit the amount of goods delivered near the ocean. According to the statistics of

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, the amount of styrene maintenance loss in Japan and South Korea reached 156900 tons in March, an increase of 15.62% compared with 135700 tons in the same period of 2014. In April, it is estimated that the loss of styrene maintenance in Japan and South Korea is 1411000 tons, an increase of 121% compared with 63800 tons in the same period of 2014.

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another in-house organization believes that the loss of high-level maintenance will limit the amount of near ocean arrival, and the amount of near ocean arrival in April has increased significantly compared with that in March. European price is high, and the quantity of ocean cargo is expected to be lower than expected.

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have previously been reported that between March and may this year, there will be 80000-100000 tons of ocean going goods hitting the Chinese market, in order to make up for the supply gap caused by the maintenance of Japan and South Korea. However, in February, some styrene plants in Europe were unexpectedly shut down, and some of them were shut down for maintenance as planned. The shortage of supply led to a sharp rise in prices beyond expectations, and the high price difference with the Asian market has remained so far.

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most of the time before, there was no price difference between Korean FOB styrene and FOB Rotterdam, but since March 2015, the price difference has gradually widened. As of April 8, the price difference has reached 147.5 US dollars / ton.

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organizations believe that under the high price difference, some US sources may give up the Asian market and turn to the European market in order to obtain higher profits, resulting in the ocean delivery volume of the Chinese market lower than the expected 80000-100000 tons.

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on the other hand, the shortage of ethylene supply also inhibited the increase of styrene production in China. Although the profit of styrene production is high, it is difficult to increase the output synchronously due to the shortage of ethylene supply. The head of a styrene plant in East China said that the current production profit is indeed higher than the average level, but ethylene procurement is extremely difficult, and high-level buyers may not be able to purchase enough quantity. At present, the inventory of ethylene in the plant is decreasing, and the start-up of styrene plant is restrained. Some traders of

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also said that the current bid of styrene plant for ethylene is higher than the average level of buyer, but the supply of goods is still difficult to guarantee. In the future, it is not ruled out that the styrene plant may reduce production due to insufficient ethylene. The

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organizations predict that the average operating rate of styrene plants in April will be 72%, 1 percentage point lower than that in March.


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