纯苯苯乙烯产业链11月报：纯苯和苯乙烯供需面缺乏向上驱动-20251031

1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - The supply and demand side of pure benzene and styrene lacks upward drivers [2]. 3. Summary by Relevant Catalogs 3.1 Preface Summary - The supply - demand situation of pure benzene and styrene lacks upward momentum [2]. 3.2 Fundamental Situation - Pure Benzene Data: The report presents data on pure benzene prices (including domestic and foreign markets), spreads,开工 rates (petroleum benzene, hydrogenated benzene), downstream weighted开工 loads and profits, port inventories, and import volumes from 2019 - 2025. For example, in 2025, the monthly pure benzene production ranges from 157.81 to 197.61 million tons, and the monthly import volume is around 40 - 50 million tons [12][15][33]. - Styrene Data: It shows styrene prices, price spreads,开工 rates, production profits, port and enterprise inventories, and downstream开工 rates and profits. The styrene production in 2025 ranges from 136.85 to 163.62 million tons, and the monthly import volume varies [37][41][60]. - Downstream Product Data: Data on the开工 rates, production profits, and inventories of downstream products such as CPL, phenol, aniline, and adipic acid are provided. For instance, the CPL开工 rate in 2025 is between 55% - 105% [21][23][27]. - Balance Sheets: Pure benzene and styrene balance sheets from January to December 2025 are presented, showing production, import, demand, and supply - demand differences. For example, the supply - demand difference of pure benzene in October 2025 is 0.05 million tons, and that of styrene is 2.05 million tons [33][60]. 3.3 Market Outlook and Strategy Recommendations - Related Data: Data on automobile production and export growth rates, and real - estate construction, new construction, sales, and completion area cumulative year - on - year growth rates are provided. For example, the automobile production and export data show trends from 0 - 3500 units with corresponding growth rates, and the real - estate data show cumulative year - on - year growth rates from - 100% - 100% [74].