【PS Morning Briefing】The raw material styrene continues to decline, and the PS market may shift towards price reductions for sales in the short term.

I. Key Points

1, 3/4: The U.S. tariff increase policy has sparked potential trade dispute risks, coupled with OPEC+ planning a modest production increase from April, leading to a decline in international oil prices. NYMEX crude oil futures for April fell by $0.11 per barrel to $68.26, a decrease of -0.16% month-over-month; ICE Brent crude oil futures for May dropped by $0.58 per barrel to $71.04, a decrease of -0.81% month-over-month. China's INE crude oil futures main contract 2504 fell by 7.7 to 531.5 yuan per barrel, and the night session fell by 12.7 to 518.8 yuan per barrel.

Core Logic: The continued downward trend of styrene as raw material is dragging down the market cost.

II. Price List

III. Market Outlook

The continuous decline in styrene, the raw material, is putting pressure on market costs. The recovery speed of small and medium-sized downstream factories is not keeping up with supply, resulting in ongoing sales pressure within the industry. In the short term, the PS (polystyrene) market may shift towards reducing prices to promote sales. It is expected that the transparent modified benzene in the East China market will range from 8,700 to 10,300 yuan per ton.