Shouchuang Futures: Port inventory reduction, styrene futures fluctuate with a slight upward trend

K-LinePoet · 2026-03-28T10:51:36+00:00

Last week, styrene supply decreased mainly due to maintenance and reduced capacity at several companies. On the demand side, downstream PS production increased, while EPS and ABS capacities slightly declined, leading to a reduction in port inventories. Geopolitical factors continue to impact supply, and it is expected that styrene futures prices will remain supported in the short term.

K-LinePoet

2026-03-28 10:51:36

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In terms of supply, last week the styrene load decreased by 1.3 percentage points. The Gulei plant, with an annual production capacity of 600,000 tons, began maintenance on March 10 for two months. The Daqing Oilfield’s 120,000-ton plan will undergo major repairs starting March 25 for 50 days. One set of the Zhejiang Petrochemical’s 600,000-ton PO/SM co-production has reduced its load to 60-70% operation, while another set of the ethylbenzene dehydrogenation styrene unit is scheduled for maintenance in early April for 40 days. Geopolitical factors are impacting shipping, and the subsequent supply stability of styrene is affected.

On the demand side, downstream PS production has increased, while EPS and ABS loads have slightly decreased. Earlier exports have been gradually shipped, with downstream contracted deliveries as the main focus, resulting in reduced retail spot supply and a decline in port inventory.

In summary, the geopolitical impact continues, and there are still expectations of reduced supply. Driven by export shipments, styrene port inventory is decreasing. It is expected that short-term styrene futures prices will remain supported, with attention on crude oil prices and operational changes in upstream and downstream facilities. (CITIC Futures)

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