Founder Futures: Cost increase plus export bullish, styrene future price strong limit up.

In terms of supply, Kuwait's 450,000-ton styrene plant is scheduled to undergo maintenance from early January to late February, which is currently declared as force majeure. Domestically, Xuyang's 300,000-ton styrene plant caught fire and stopped operation, with an expected restart in late March. Dalian Hengli's 720,000-ton annual styrene plant is planned to undergo a 10-day maintenance in mid-March, Zibo Junchen's 500,000-ton annual styrene plant is scheduled for a 40-day maintenance at the end of March, and Jingbo's 670,000-ton annual styrene plant is planned to restart in mid to late March. In terms of demand, the supply of foreign goods is tight, and exports are active. Additionally, geopolitical tensions have led to an increase in crude oil prices, with firm trends in futures prices. Downstream styrene stocking purchases are active, with a good trading atmosphere, leading to a decrease in port inventories. This week, styrene port inventories have decreased by 0.12 million tons. In summary, cost support is relatively strong, good export performance is driving inventory turnover. It is expected that short-term styrene futures prices will maintain a strong trend, with focus on crude oil prices, changes in plant operations, and progress in downstream resumption of work.