瑞达期货苯乙烯产业日报-20250507

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core View of the Report - The short - term outlook for EB2506 is expected to be in a volatile trend, with support around 6800 and resistance around 7200. As Wanhua and Zheshi's 125 - million - ton facilities are restarting, the supply pressure of styrene spot is rising. The demand for EPS, PS, and ABS is average, and the finished - product inventory remains relatively high. The Chinese side has agreed to engage with the US on tariffs, and the tense geopolitical situation in the Middle East has led to a strong rebound in international oil prices [2] Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the active styrene futures contract is 7048 yuan/ton, up 104 from the previous period. The trading volume is 361433, an increase of 67987. The long - position volume of the top 20 holders is 407547 hands, up 10217. The closing price of the March contract is 6776 yuan/ton, up 37. The open interest of the active contract is 256942 hands, down 15483. The net long - position volume of the top 20 holders is - 6827 hands, up 1717. The short - position volume of the top 20 holders is 414374 hands, up 8500. The total number of warehouse receipts is 0 hands, down 805 [2] Spot Market - The spot price of styrene is 7650 yuan/ton, unchanged. The FOB South Korea intermediate price is 850 US dollars/ton, down 75. The CFR China intermediate price is 860 US dollars/ton, unchanged. The mainstream prices in the South China, Northeast, North China, and East China regions are 7415 yuan/ton (up 100), 7350 yuan/ton (unchanged), 7275 yuan/ton (unchanged), and 7130 yuan/ton (down 65) respectively [2] Upstream Situation - The CFR Northeast Asia intermediate price of ethylene is 791 US dollars/ton, unchanged. The CFR Southeast Asia intermediate price is 871 US dollars/ton, unchanged. The CIF Northwest Europe intermediate price is 773.5 US dollars/ton, down 25.5. The FD US Gulf price is 457 US dollars/ton, down 6. The CIF price of pure benzene in Taiwan is 675.83 US dollars/ton, unchanged. The FOB price in the US Gulf is 5600 US cents/gallon, down 400. The FOB price in Rotterdam is 660 US dollars/ton, up 34. The market prices in the South China, East China, and North China markets are 5600 yuan/ton (down 400), 5555 yuan/ton (down 170), and 5390 yuan/ton (down 260) respectively [2] Industry Situation - The overall styrene operating rate is 70.49%, up 2.56. The national inventory is 209882 tons, down 6425. The total inventory at the main ports in East China is 6.85 million tons, down 1.67. The trade inventory at the main ports in East China is 5.35 million tons, down 0.47 [2] Downstream Situation - The operating rates of EPS, ABS, PS, UPR, and styrene - butadiene rubber are 49.28% (down 7.76), 67.14% (up 2.06), 58.8% (up 0.1), 30% (up 2), and 67.86% (down 4.09) respectively [2] Industry News - On May 7, the central bank announced ten measures in three categories, including reserve requirement ratio and interest rate cuts and a reduction in the individual housing provident fund loan interest rate. From April 25 to May 1, China's total styrene production was 322,900 tons, a 3.76% increase from the previous period, and the plant capacity utilization rate was 70.49%, a 2.56% increase. From April 18 to 24, the consumption of the main downstream products (EPS, PS, ABS) was 252,600 tons, a 2.73% decrease from the previous week. As of April 30, the sample inventory of styrene factories was 209,900 tons, a 2.97% decrease. As of May 6, the sample inventory at Jiangsu ports was 685,000 tons, a 19.60% decrease, and the inventory at South China ports was 290,000 tons, a 16% increase [2]