[PS Weekly Review] Market Rises Then Falls With Narrow Fluctuations

1. Hot Topics of the Week

During this cycle, the domestic PS market first rose and then fell, with a fluctuation of around 50 yuan/ton.

This week, China's PS industry output was 79,000 tons, with an industry operating rate of 51.6%, an increase of 1% compared to last week.

This week, China's PS finished product inventory is 90,000 tons, a decrease of 3.2% compared to last week.

2. Weekly Market Review

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

During this period, the domestic PS market rose first and then fell, with a fluctuation of around 50 yuan/ton. In terms of cost, macro policies boosted market bullish sentiment, styrene prices increased, but inventories continued to accumulate, putting pressure on spot prices to decline. On the supply and demand side, some plants in Guangdong underwent maintenance; however, Lianyungang Petrochemical gradually resumed operations, leading to a slight increase in industry supply. Some low-priced shipments performed well, and finished product inventories slightly decreased. According to data from Longzhong Information, on July 24, 2025, the East China market saw GPPS up 50 yuan to 7,850 yuan/ton, while HIPS remained stable at 8,750 yuan/ton.

3. Market Forecast for Next Week

The PS market is expected to be weak and consolidate in the next session. On the cost side, styrene supply and demand remain in a broad balance. Spot and near-term supplies are under pressure, and there is insufficient support for price increases. Prices are likely to fluctuate at low levels next week. On the supply and demand side, industry supply is recovering, while downstream demand remains largely unchanged in the off-season. Supply and demand may become slightly more relaxed, providing limited support for prices.