CICC Wealth Futures: Styrene prices may hit new highs under the influence of geopolitical factors

K-LinePoet · 2026-04-10T12:17:21+00:00

The closure of the Strait of Hormuz impacts the styrene market, with geopolitical factors dominating, leading to increased price volatility. Future deterioration of the Iran situation may reduce pure benzene imports, pushing up styrene prices. Even if the strait is reopened, accelerated inventory depletion will still drive prices higher, and future trends will be influenced by geopolitical developments and crude oil prices.

K-LinePoet

2026-04-10 12:17:21

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Since the closure of the Strait of Hormuz, the fundamental logic of styrene has given way to geopolitical factors, with trends fluctuating significantly alongside raw material costs. If the conflict in Iran intensifies in the future, reduced pure benzene imports combined with ethylene supply disruptions will further exacerbate styrene supply issues, potentially driving nearby futures prices to new highs. Even if the Strait of Hormuz is reopened, downstream restocking and export deliveries will continue to accelerate inventory depletion, causing the price center of styrene to rise noticeably above pre-incident levels. The subsequent geopolitical situation and crude oil trends will remain key factors in determining styrene market performance. Based on current publicly available information, the deployment of a amphibious assault group by Trump indicates a continued risk of escalation, and styrene is expected to remain in a high-level, oscillating, and relatively strong trading range. (CICC Wealth Futures)

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