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[PS Weekly Outlook] Short-Term PS Market May Show Narrow Weakness

Longzhong 2025-10-13 08:41:22

I. Focus Points

1 、 10/10: The easing of the Israeli-Palestinian situation, combined with potential new risks from U.S. tariff issues, has led to a decline in international oil prices. The NYMEX crude oil futures for the November contract fell by $2.61 per barrel to $58.90, a decrease of 4.24% from the previous period; the ICE Brent crude futures for the December contract fell by $2.49 per barrel to $62.73, a decrease of 3.82% from the previous period. The China INE crude oil futures for the 2511 contract fell by 2.5 to 466.2 yuan per barrel, with a night session drop of 21.2 to 445 yuan per barrel.

Core Logic: Crude oil has fallen sharply, styrene feedstock is weakly consolidated, and cost support is average.

2. Price List

Product	Region	Previous Day Price	Today's Price	Rise and fall
Brent	--	62.73	62.73	0
Styrene	Jiangsu	6775	6675	-100
Styrene	Guangdong	6805	6710	-95
PS	East China	7200	7130	-70
Remarks: 1 Brent is denominated in USD/barrel, while Styrene and PS are priced in RMB, unit: yuan/ton. 2 Select Green Anqing Peak 525 in PS. 3 The above RMB prices include tax. 4 The rise and fall are month-on-month changes.

3. Market Outlook

Crude oil has dropped significantly, and the raw material styrene is weakly consolidating, with general cost support. The industry inventory faces certain pressure, and the purchasing pace from downstream has slowed down. The PS market may be slightly weak in the short term. It is expected that the price of toluene in the East China market will range from 7200 to 8300 yuan/ton.

4. Data Calendar

Data Project	Publication Date	Previous Data	Current trend forecast
PS Capacity utilization rate	Thursday 4:00 PM	54.6%	↘
PS Profit	Thursday 4:00 PM	44	↘
1 "Consider significant fluctuations as those with changes exceeding 3% in magnitude, highlighting these data dimensions." 2 Regarded as narrow fluctuations, highlighting data with a price change within 0-3%.

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[PS Weekly Outlook] Short-Term PS Market May Show Narrow Weakness

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