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[PS Morning Brief] Short-Term PS Market May Operate Weakly

Longzhong 2025-09-24 08:42:36

I. Points of Attention

1 、 9/23: The instability of the Russia-Ukraine situation persists, and the United States may escalate sanctions against certain oil-producing countries, leading to a rise in international oil prices. NYMEX crude oil futures for the November contract rose $1.13 to $63.41 per barrel, a month-on-month increase of 1.81%; ICE Brent crude futures for the November contract rose $1.06 to $67.63 per barrel, a month-on-month increase of 1.59%. China's INE crude oil futures for the 2511 contract fell 8.9 to 475.3 yuan per barrel, with the night session rising 7.0 to 482.3 yuan per barrel.

Core Logic: The raw material styrene continues to decline, leading to weaker cost indications.

2. Price List

Product	Region	Previous day's price	Today's Price	Rise and fall
Brent	--	66.57	67.63	1.06
Styrene	Jiangsu	6970	6870	-100
Styrene	Guangdong	7025	6975	-50
PS	East China	7500	7400	-100
Note: 1 Brent is priced in USD/barrel, while styrene and PS are priced in RMB, unit: yuan/ton. 2 Select Green Anchor Peak 525 in PS. 3 The above RMB prices include tax. 4 The above content translates to: "The increase or decrease is the month-on-month change value."

Market Outlook

Raw material styrene continues to decline, with cost direction weakening. The industry supply is relatively ample, and downstream procurement is driven by low-level demand. The PS market may operate weakly in the short term. It is expected that the modified benzene price in the East China market will be around 7300-8300 yuan/ton.

4. Data Calendar

Data Project	Publication Date	Last period data	This issue trend forecast
PS Capacity utilization rate	Thursday 4:00 PM	61.2%	↘
PS Profit	Thursday 4:00 PM	40	↘
1 Consider fluctuations as significant when the price change exceeds 3%. 2 Considered as narrow fluctuations, highlighting data with price changes within 0-3%.

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[PS Morning Brief] Short-Term PS Market May Operate Weakly

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