[PS Weekly Review] Market Edges Down, Low-Price Sales Remain Manageable

1. Hot Topics of the Week

During this period, the domestic PS market declined slightly, with a decrease of around 100 yuan/ton.

2) This week, China's PS industry production reached 96,000 tons, an increase of 2,000 tons compared to last week. The industry's capacity utilization rate was 61%, up 1.1% from last week.

This week, China's PS finished product inventory was 89,000 tons, remaining stable compared to last week.

2. Review of This Week's Market Trends

Figure 1 PS from 2023 to 2025DailyEast China Market Price Trend Chart (Unit: RMB/ton)

During this period, the domestic PS market slightly declined, with a decrease of around 100 yuan/ton. On the cost side, benzene weakened, styrene inventories remained high, and coupled with a prevailing bearish sentiment among investors, styrene prices fluctuated downward. On the supply and demand side, the continued production increase from Huizhou and Xinpu plants led to growth in industry supply; however, despite low market prices, sales were relatively stable, inventory fluctuations were minimal, and demand recovery was limited. According to Longzhong Intelligence data, on September 4, 2025, the East China market price of transparent benzene decreased by 90 yuan to close at 7,580 yuan/ton, and modified benzene decreased by 100 yuan to close at 8,400 yuan/ton.

3. Market Forecast for Next Week

The PS market is expected to remain in a narrow range in the next session. On the cost side, some styrene units have undergone short-term or planned shutdowns, and with expectations of increased demand, a slight rebound is possible. In terms of supply and demand, production at Renxin has increased, and overall industry supply continues to rise. However, the recovery of downstream demand remains limited, so supply and demand are still relatively loose, and the market is likely to fluctuate within a narrow range.