瑞达期货苯乙烯产业日报-20250826

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints of the Report - The short - term fundamentals of styrene are still weak, but the expectation of improved supply - demand in September and the expectation of rectification in the oil - chemical industry support the October contract, resulting in a game between weak reality and strong expectation. Technically, EB2510 should focus on the support around 7200 and the pressure around 7500 [2] Group 3: Summary by Relevant Catalogs 3.1 Futures Market - The trading volume of styrene futures (active contract) is 7257, and the trading volume of the previous 20 positions' buy orders is 318745 hands. The closing price of the November contract is 7276 yuan/ton, down 66 yuan. The futures holding volume (active contract) is 295747 hands, and the net buy order volume of the previous 20 positions is - 48401 hands, a decrease of 10967 hands. The sell order volume of the previous 20 positions is 367146 hands, and the number of warehouse receipts is 650 hands [2] 3.2 Spot Market - The spot price of styrene is 7624 yuan/ton. The FOB South Korea intermediate price is 895.5 US dollars/ton, down 4 US dollars. The CFR China intermediate price is 905.5 US dollars/ton. The mainstream prices in Northeast, South, North, and East China are 7310 yuan/ton (down 200 yuan), 7480 yuan/ton (down 30 yuan), 7370 yuan/ton (down 5 yuan), and 7355 yuan/ton (down 20 yuan) respectively [2] 3.3 Upstream Situation - The CFR Northeast Asia intermediate price of ethylene is 841 US dollars/ton, and the CFR Southeast Asia intermediate price is 831 US dollars/ton. The CIF Northwest Europe intermediate price is 822.5 US dollars/ton, and the FD US Gulf price is 457 US dollars/ton. The spot prices of pure benzene in the US Gulf, Taiwan, Rotterdam, South China, East China, and North China markets are 264 US cents/gallon, 744.67 US dollars/ton, 675 US dollars/ton, 6150 yuan/ton, 6055 yuan/ton (down 30 yuan), and 6130 yuan/ton (down 30 yuan) respectively [2] 3.4 Industry Situation - The total styrene production from August 15th to 21st was 370,800 tons, a 0.46% increase from the previous period, and the capacity utilization rate was 78.53%, a 0.35% increase. The national styrene inventory is 206,476 tons, a decrease of 2241 tons. The total inventory in the East China main port is 179,000 tons, and the trade inventory is 84,000 tons, an increase of 7500 tons [2] 3.5 Downstream Situation - The operating rates of EPS, ABS, PS, UPR, and styrene - butadiene rubber are 60.98% (up 2.9%), 71.1% (unchanged), 57.5% (up 1.1%), 34% (up 2%), and 68.16% (down 3.94%) respectively. From August 15th to 21st, the consumption of the main downstream products of styrene was 270,600 tons, a 2.81% increase from the previous week [2] 3.6 Industry News - From August 15th to 21st, China's styrene factory production increased by 0.46% to 370,800 tons, and the capacity utilization rate increased by 0.35% to 78.53%. The consumption of the main downstream products increased by 2.81% to 270,600 tons. As of August 21st, the factory sample inventory decreased by 1.07% to 206,500 tons [2]