China's control of the real estate market has led to lower prices of styrene

In Asia, it is reported that the Chinese government will continue to control the real estate market and cause the price of styrene to decline. Last week, the spot price of FOB Korea's pure benzene in Asia fell by 15 US dollars / ton, compared to the previous week, styrene spot fell by 30 US dollars / ton, the March 16 price of 1470-1480 US dollars / ton CFR China. In the United States, FOB USG styrene spot prices fell by US$5/ton last week due to a US$10/ton drop in pure benzene prices. According to reports, the spot price of global styrene showed a general downward trend last week, due to a correction in energy prices, coupled with ample supply of styrene and weaker demand. Since the beginning of March, prices of crude oil futures contracts delivered on the New York Mercantile Exchange fluctuated in April due to concerns about the economic development prospects of the major economies in the United States and China. In the first half of the month before Friday, crude oil prices fell by nearly 4 US dollars/barrel, but by Friday, the crude oil futures price rose again by 2 US dollars/barrel, but it was still slightly lower than the level in early March. In Europe, CIF Northwest Europe's spot price of pure benzene fell by US$15/ton from the previous week, and fell by US$55/ton from March 1. As a result, the spot price of styrene has fallen by 35 U.S. dollars per ton in the past week. In addition to the declining benzene price, it is expected that a large number of U.S. cargoes entering the region in the second half of March and April will also be another factor causing the decline in European prices. .

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