苯乙烯：多空博弈，价格先下跌后小幅反弹

Core Viewpoint - Styrene prices experienced a decline followed by a slight rebound, with the average closing price in Jiangsu at 7620 yuan/ton as of February 11, down 310 yuan/ton or 3.91% from February 4 [1] Cost Analysis - International oil prices fluctuated, primarily influenced by negotiations between the U.S. and a Middle Eastern country, with Brent crude oil closing at a decrease of $0.06 per barrel as of February 11 [1] - Pure benzene prices initially fell due to the end of downstream stocking, but later rebounded slightly as market expectations shifted towards tighter supply post-Spring Festival, with the average price in East China down 1.54% from the previous Wednesday [1] Supply and Demand Dynamics - Domestic production increased more than expected due to the restart of facilities by companies such as Xinyang Technology, Sinochem Quanzhou, and Tianjin Bohua; however, production of key downstream products like PS and EPS decreased, while ABS saw a slight increase, indicating continued weak consumption [1] - Main port arrivals were insufficient to meet demand, leading to a decrease in inventory levels [1] Market Forecast - As the Spring Festival approaches, the fundamental supply-demand balance is expected to weaken, putting pressure on prices; however, actual trading in the East China spot market remains limited, with prices primarily driven by expectations [1] - Current market sentiment leans towards a lower accumulation of inventory at main ports post-Spring Festival and a favorable macroeconomic outlook, providing support for prices [1] - In the context of the ongoing tug-of-war between bullish and bearish sentiments, short-term styrene prices may exhibit a strong consolidation trend [1]