1.202 1 styrene surge during the Spring Festival.
During the Spring Festival, the supply of styrene equipment in Europe was tight, and the price rose by more than $250/ton. Considering the 5% increase of oil price in the outer disk during the Spring Festival, it is very likely that EB will open higher and go higher today, and it may even hit the daily limit. In the long run, the market's expectations for economic recovery and inflation in the post-epidemic era are still strong, including the price of crude oil and non-ferrous metals breaking through one after another, and the risk appetite of long-term funds in the global commodity market is still more radical. At least in February, EB is likely to continue to be strong, and the spot and disk main contracts are likely to significantly break through last year's high price 1 16.
Second, can styrene continue to be short for a month and hit a new high?
During the day, styrene rose rapidly, and the main contract once rose to 3.6%, and the price reached a new high in more than a month. In just one week, the cumulative increase of styrene exceeded 12%. At the close, the main contract of styrene closed up 2.49%. At present, overseas market sentiment is picking up. The Organization of Petroleum Exporting Countries predicts that oil demand will increase by 5 million barrels per day in the second half of 20021compared with the first half, crude oil will stabilize and rebound, and the price of pure benzene will also rise strongly, which will support the cost-side styrene to some extent. In terms of inventory, East China styrene is still at a historical low, and the inventory is hovering at a low level. According to incomplete statistics, at present, the total social stock of styrene in Jiangsu is 57,700 tons, a decrease of 0.73 million tons from the previous month; Commodity inventory was 34,700 tons, down 1.48 tons from the previous month. In terms of demand, it is currently in the off-season of styrene terminal demand, and the downstream mainstream products are stable and declining. At present, the market does not accept the current surge in upstream, and the participation in procurement is not high. After the increase in maintenance, the supply of ABS is slightly tight, but the transaction is average, only partial follow-up, EPS and PS remain weak, and the downstream cautious mentality still exists.
As of 202 1, 10 and 13, the inventory of East China Port is 12.78(+0. 17) million tons, with the arrival volume increasing and the inventory slightly increasing. Production profit: the production of non-integrated units continues to be at a loss, which will limit the decline of styrene and not rule out the shutdown and maintenance of new units.