苯乙烯：受原油拖累回落，供需与库存待变

Core Viewpoint - Recent decline in upstream crude oil prices has negatively impacted various energy chemical products, including styrene, which has experienced varying degrees of decline [1] Supply Side - Domestic maintenance plans for certain facilities have been implemented, leading to a decrease in industry operating rates from high levels, resulting in fluctuations in production [1] - The volume of imports arriving at ports has decreased month-on-month, alleviating short-term inventory pressure, although overall supply remains sufficient [1] Demand Side - The operating rates in downstream EPS and PS industries have seen a slight increase, providing some support [1] - However, there is no significant increase in orders from end-user sectors such as home appliances, leading to limited market follow-up and low purchasing enthusiasm, with overall demand being primarily rigid [1] Inventory Situation - Recent data indicates an accumulation of port inventories, with ongoing de-inventory pressure [1] - Future attention is required on marginal changes in supply and demand dynamics [1]