Last week, the market entered the pre-holiday stockpiling period, experiencing a fluctuation where prices first fell and then rose. Additionally, crude oil prices strengthened, narrowing the price difference between raw materials and styrene.
Continuous weak expectations in supply and demand have persistently suppressed the profitability of styrene production and sales, resulting in escalating losses for some plants. In response, production cuts at manufacturing facilities increased. The market experienced an accelerated rebound during this phase, prompting upstream factories to either significantly raise prices for shipments or cease offering products, anticipating further upside potential in the future.
