U.S. Styrene Prices Stabilize in December 2024 After Steep Declines The U.S. styrene market is showing stabiity this month, following months of sharp prce decreases earler this yea. Pnces saw a nominalgrowth of 0.59% during the third week, a marginal yet notable change compared to the drastic reducions earier in the year, paricularly inSeptember when prices dropped by over 12% in a single week. December appears to be a month of relative balance for the styrene market asglobal supply constraints, driven by planned maintenance activities in Asia has reduced competitive import pressure on U.s. manufacturers.Downstream sectors continue to plav a crucial role in shapino the styrene demand across the us, The packading industry, which heaviy relie.on styrene for productions, is reporting moderate actvity this month, and cautious inventory management is imiting any strong recovery indemand. Similarly, the construction sector is experiencing slower growth as economic uncertainties afect the production and businessactivities. Meanwhile, the automobile industry, a major styrene consumer, remains below pre-pandemic production levels despite graduaImprovements, eadina to reduced overall demand for styrene-based productsEconomic factors are also infuencing the U.s. styrene market this month. Ethylene prices, a key feedtock for producing styrene, haveincreased significantly so far this month. This upward trend in ethylene costs has added production pressure for styrene manufacturersHowever, the impact on styrene prices remains limited as reducion in imports due to global supply disruptions is helping to maintain aDalance in the market. Globaly, signifcant maintenance shutdowns have tightened styrene supply, indirectly benefting the U.s. market. Faclties such as ZhejiangPetroleum & Chemical and Formosa Chemicals in China and Taiwan, respectively, have reduced their output substantially to performmaintenance activities this month, which has limited the avalability of imported styrene has reduced the competition for domestic styrenemanufacturers, enabling them to maintain steady pricing levels. Additionaly, these supply disruptions have affected the flow of cheaperimports into the U.S., providing relief to domestic producers. U.s. upstream manufacturers are taking steps to adapt to the changing market conditions caused by global supply disruptions and shiftingconsumer demands. Many styrene producers are focusing on improving operational efficiency to reduce costs and increase production ratesAdditionaly, they are increasing their use of sustainable alternatives, such as recyclable styrene - based products, to meet growingenvironmental concerns and align with market trends Overa, the U.s. styrene market is refecting a period of stabilization, with prices holding steady despite rising production costs. The combinedeffects of reduced alobal compettion, moderated downstream activty, and tiohtening intenational supply is contibuting to maintaining theDalance. As the year ends, market players are closely monitoring the economic indicators and downstream performance to adapt to thechange in styrene market trends in early 2025.