The rise in crude oil and the increase in styrene supply have positively affected market sentiment. However, the abundant supply of domestic and imported sources, along with the decline in pure benzene prices despite the increase in downstream styrene demand, has put pressure on pure benzene.
Last week, the main operating companies adjusted their listed prices downward. But as petroleum benzene is approaching the cost line, the conditions for further decline are insufficient. In the short term, the market is in a stalemate between bulls and bears, and further guidance from the market is needed.
