Market Overview - On November 25, the East China styrene market experienced slight fluctuations, with increased port arrivals leading to higher port inventories, which pressured market trading atmosphere [1] - The current spot price for styrene is between 6490 to 6510 yuan/ton, with December contracts at 6520 to 6540 yuan/ton, and January contracts at 6540 to 6570 yuan/ton [1] Profitability - As of November 25, the profit for non-integrated styrene units is approximately 16 yuan/ton [2] Supply and Demand - Styrene production as of November 20 is 342,900 tons, with an operating rate of 68.95% [3] - Styrene inventory in Jiangsu as of November 24 totals 164,200 tons, an increase of 15,900 tons from the previous period [3] - Downstream capacity utilization rates are as follows: EPS at 56.27% (+4.64%), PS at 55.90% (+0.5%), and ABS at 72.4% (+0.6%) [3] Market Outlook - With the recovery of styrene profits, some factories are increasing their load, but there are also some units undergoing maintenance, leading to limited overall supply [4] - Demand is expected to be constrained due to high finished product inventories and compressed profits in some downstream sectors [4] - Although short-term expectations for styrene supply and demand are improving, the rebound potential is limited due to weak cost support and anticipated demand weakening [4]
苯乙烯：供需预期好转但成本支撑偏弱 驱动有限
Jin Tou Wang·2025-11-26 02:09