EUR/USD
1.15905
-0.299%
Gold
4374.37
-1.836%
Oil
90.784
2.743%
USD/JPY
159.643
0.081%
GBP/USD
1.33710
-0.419%
GBP/JPY
213.463
-0.331%
Real-time News
The yield on Japans 20-year government bond rose 2.0 basis points to 3.615%.New York silver futures fell 3.00% on the day, currently trading at $72.63 per ounce.Futures News, May 28th: Styrene prices continued to fall this week. As of May 27th, the average closing price in Jiangsu market was 9035 yuan/ton, a decrease of 630 yuan/ton from May 20th, a drop of 6.52%. 1. Costs: Following the renegotiation between the US and Iran, and Irans announcement of a peace agreement, oil prices fluctuated and fell. As of the close of trading on May 27th, Brent crude oil prices fell 10.22% compared to the previous Wednesday. Benzene followed the decline in oil prices, and downstream industries remained unprofitable, resulting in low enthusiasm for raw material procurement, which also put pressure on spot prices. However, the main ports maintained destocking to some extent, limiting the decline. As of the close of trading on May 27th, the average daily price in the East China market fell 7.54% compared to the previous Wednesday. 2. Supply and Demand: With the shutdown and maintenance of the Zhenhai Liande Phase I plant, weekly output may decrease by 3.17% week-on-week. Benzene production is expected to increase this Wednesday, but downstream buying interest remains weak. With export shipments being loaded, main port inventories have decreased to below 100,000 tons, providing fundamental support for prices. 3. Forecast: The current price drivers for bulk chemicals remain on the raw material side. The market continues to focus on developments in the Middle East. This morning, news circulated that the US was resuming strikes against Iran, reigniting concerns. This, coupled with declining US crude oil inventories, also supported oil prices. Looking at styrene fundamentals, Shenghongs plant will shut down for maintenance next week, while Xinyangs plant will restart, potentially leading to a slight decrease in output. On the demand side, downstream acceptance of current styrene prices has improved, and market activity may improve. Major ports may continue to reduce inventory, but decreased export orders may slow the pace of inventory reduction. With both costs and fundamentals providing short-term support, styrene prices are expected to continue rebounding, but geopolitical developments still need to be monitored.The Ukrainian parliament website shows that Ukrainian President Zelensky has submitted a draft law on approving the loan agreement between Ukraine and the European Union.On May 28th, Brendan Schulman, Vice President of Policy and Government Relations at Boston Dynamics, stated at the Humanoid Robotics Summit in Tokyo that robotics technology has so far been relatively unaffected by geopolitical pressures, but this could soon change. He noted that policymakers in Washington are beginning to pay attention to robotics. General government policies, such as tariffs on metals, also impact robotics because these policies affect supply chains.
