【PS Morning Alert】Demand is below expectations, and the PS market is expected to trend weakly today.

I. Focus Points

On March 26, U.S. crude oil and refined oil inventories decreased, coupled with geopolitical instability, leading to an increase in international oil prices. NYMEX crude oil futures for May delivery rose by $0.65 to $69.65 per barrel, a 0.94% increase; ICE Brent crude futures for May delivery rose by $0.77 to $73.79 per barrel, a 1.05% increase. The main contract for China's INE crude oil futures for May rose by 2.1 to 539.4 yuan per barrel, with a night session increase of 3.5 to 542.9 yuan per barrel.

Core logic:The downstream demand for PS is generally weak, and the industry is under significant supply pressure, resulting in a weak operation.

II. Price List

Market Outlook

Yesterday, the raw material styrene was weakly adjusted at low levels, primarily influenced by bearish cost factors. Supply is high with pressure on shipments, and demand is below expectations. It is anticipated that the PS market will likely operate weakly today. The price for toluene modified styrene in the East China market is expected to be between 8400-10300 CNY/ton.

Data Calendar