Shouchuang Futures: Downstream operations decline, styrene futures continue to adjust

2026-02-26 11:11:48

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In the spot market, East China styrene prices are 7,620 RMB/ton, up 10 RMB/ton compared to the previous period.
Regarding supply, Asian pure benzene operates steadily, while domestic pure benzene utilization rate has increased by 1.5 percentage points, and hydrogenated benzene by 1.2 percentage points. Currently, the styrene industry remains profitable, supporting high utilization rates for non-integrated units. Some units are scheduled for maintenance later; Xuyang’s 300,000-ton styrene plant is shut down, with restart date to be determined. Jilin Petrochemical’s 600,000-ton styrene plant plans to shut down from mid-April to late May.
On the demand side, downstream industries are experiencing losses, with significant reductions in 3P plant operations, leading to limited raw material procurement. As holidays approach, downstream operations are gradually halting. Although exports are still shipping, there is still ample spot supply, and inventory buildup is expected during spring.
Currently, styrene is in a high-profit, high-utilization state with sufficient supply. As downstream production accelerates downward, negative feedback is transmitted upward. In the short term, styrene is expected to fluctuate weakly, with attention to crude oil prices, plant operation rates, and inventory changes. (First Capital Futures)

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