Conclusion
Both the pure benzene and styrene markets have experienced ** in the short term, but the downside is limited. Supporting factors in the medium term include the domestic and international supply and demand pattern of pure benzene and the increase in styrene exports. It is recommended to pay attention to the support level of 8800-8900, and consider continuing to go long.
AnalyticsPure benzene market
Reason: The pressure of domestic pure benzene due to shipping schedules and profit orders, as well as styrene overhaul; Overseas demand for ethylbenzene has been reduced due to the economic decline in ethylbenzene.
Medium-term support: The gap pattern of pure benzene at home and abroad has not changed, **only**. Short-term profits are repairing downward, but they are expected to recover later.
Styrene market
Inventory accumulation: Styrene inventory continues to accumulate, mainly because of the large number of arrivals at the port and the slow delivery of downstream goods.
Short-term adjustments: Styrene is facing high inventory pressure, with both unilateral and structural declines. However, there will not be much room and magnitude for short-term adjustments.
Medium-term opportunities: The external market continues to be strong, and the domestic market will stimulate the increase in exports. Styrene itself is overhauled more, and the downstream start is expected to be upward, and the profit has rebounded significantly.
data
As of February 26, the inventory of pure benzene in East China port was 40,000, down 1 from the previous month350,000 tons.
As of February 26, East China styrene inventory was 25370,000 tons, an increase of 3 from No. 18140,000 tons.
Suggested actions
Pay attention to the support level of 8800-8900, and consider continuing to go long.
Beware of expected differences in import volumes**.
Pay attention to the export of styrene and the recovery of downstream profits.
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Important: This report strives to be objective and unbiased in its contents, citations and data. Reliable, accurate and complete to the best of our ability, but not the accuracy and completeness of the information stated in the reportThe information provided in this report is for reference only and is not used as the basis for investment decisions。Investment is risky, and you need to be cautious when entering the market.