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Daily Release | Time: Feb 10 2020 5:19PM
Styrene monomer market daily (Feb 10, 2020)
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Styrene daily average price
  Price Change
East China, yuan/mt 6,750 -50
CFR China, $/mt 820 -18
DCE EB2005 contract
Close (yuan/mt) On Day Change (yuan/mt) Open interest(lot)
6,966 2 56,366
Daily average prices in downstream
  Price Change
EPS 8,800 --
PS 9,150 --
ABS 12,280 --

Styrene monomer market retreated in East China Monday. DCE SM futures closed at 6,966yuan/mt, 0.03% higher from the previous settlement. Port inventory and plant inventory both increased due to traffic control. Many plants lowered operating rate. Traders quoted down while downstream plants were still cautious in buying. H2 Feb materials were talked around 6,730-6,750yuan/mt, and H2 Mar materials talked at 6,830-6,850yuan/mt. CFR China market moved down apparently. Offers for Mar loading were at $830/mt. In paper market, Mar offers were at $840/mt and Apr bids were at $820/mt. In plant news, Zhejiang Petroleum & Chemical's one 600kt/year styrene line is running normally, and the other at lowered rate. SM output is around 2,500 tons per day. Shanghai SECCO Petrochemical cuts operating rate of its 700kt/year styrene unit at 70%. CNOOC Daxie Petrochemical lowered operating rate of its 360kt/year styrene unit to around 60%. Ningbo Keyuan shut one 100kt/year styrene line before the CNY holiday, and shut the other 100kt/year line on Feb 8. Maoming Xinhuayue Petrochemical has closed its 30kt/year styrene unit.

$1=CNY 7.02
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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