苯乙烯去库速率放缓

Report Summary 1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core Viewpoints - For pure benzene, the peak of short - term domestic arrivals has passed, and the inventory accumulation rate has slowed, but the absolute inventory level remains high. The domestic start - up rate has decreased due to low profits, and downstream提货 is weak with continuous decline in downstream start - up rates during the off - season [3]. - For styrene, the inventory decline rate at ports has slowed, and the port basis has continued to decline after peaking. The downstream start - up rate is weak during the off - season, and attention should be paid to downstream inventory - holding willingness [3]. 3. Summary by Directory I. Pure Benzene and EB's Basis Structure, Inter - period Spreads - Figures include pure benzene's main basis and main futures contract price, main contract basis, spot - M2 paper cargo spread, and the spread between the first and third contracts of pure benzene, as well as EB's main contract trend and basis, main contract basis, and the spread between the first and third contracts of styrene [8][14][15][19] II. Pure Benzene and Styrene Production Profits, Domestic and Foreign Spreads - Figures cover naphtha processing fees, the difference between pure benzene FOB Korea and naphtha CFR Japan, styrene non - integrated device production profit, the difference between pure benzene FOB US Gulf and FOB Korea, the difference between pure benzene FOB US Gulf and CFR China, the difference between pure benzene FOB Rotterdam and CFR China, pure benzene import profit, and styrene import profit [22][24][29][34][36] III. Pure Benzene and Styrene Inventory, Start - up Rate - Figures show pure benzene's East China port inventory, start - up rate, styrene's East China port inventory, start - up rate, East China commercial inventory, and factory inventory [38][41][43] IV. Styrene Downstream Start - up and Production Profits - Figures present EPS start - up rate and production profit, PS start - up rate and production profit, ABS start - up rate and production profit [51][53][56] V. Pure Benzene Downstream Start - up and Production Profits - Figures include caprolactam start - up rate and production profit, phenol - ketone start - up rate and production profit, aniline start - up rate and production profit, adipic acid start - up rate and production profit, PA6 regular spinning bright production profit, nylon filament production profit, bisphenol A production profit, PC production profit, epoxy resin E - 51 production profit, pure MDI production profit, and polymer MDI production profit [63][65][76][82][83][86]