海外两套装置重启，开工近六年同比最低

Report Summary 1) Report Industry Investment Rating - No information provided 2) Core Viewpoints of the Report - As of November 20, 2025, the domestic styrene operating rate decreased slightly, while overseas and global styrene operating rates increased, but all were at relatively low levels compared to the same period in previous years [3] 3) Summary by Related Catalogs - Domestic Styrene Situation - As of November 20, 2025, the domestic styrene operating rate was 68.95%, a month - on - month decrease of 0.3 pct and a year - on - year increase of 3.0 pct [3] - The weekly output was 34.29 tons, a decrease of 0.15 tons from the previous period. One unit in East China restarted, and one unit each in Northeast, East, and South China adjusted their loads, resulting in a slight decline in output [3] - Overseas Styrene Situation - As of November 24, 2025, the overseas styrene operating rate was 74.6%, a month - on - month increase of 2.3 pct and a year - on - year decrease of 12.1 pct, at a relatively low level compared to the same period in the past five years [3] - The 525,000 - ton US Amsty unit and the 580,000 - ton South Korea Lotte unit restarted [3] - Global Styrene Situation - As of November 24, 2025, the global styrene operating rate was 71.8%, a month - on - month increase of 1.0 pct and a year - on - year decrease of 4.7 pct, at the lowest level in the past six years [3]