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Styrene Falls 3.74% to 7,590 Yuan/Ton as Brent Crude Drops 7.3% in Week Through June 24

GateNews
Commodities
According to Jin10, styrene prices in China's Jiangsu market closed at 7,590 yuan/ton on June 24, down 3.74% (295 yuan/ton) from June 17, amid broader weakness in crude oil costs. Brent crude fell to 73.74 USD/barrel as of market close, down 7.3% week-on-week, with market participants anticipating potential oversupply from Middle Eastern production. Pure benzene, a key feedstock for styrene, tracked crude's downward movement, with East China averaged prices falling 1.83% from the previous Wednesday. Supply-side pressures also weighed, as downstream producers in ABS, EPS, and PS segments faced margin pressure, while port inventory accumulated as arrivals outpaced lifting.
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