芳烃日报：美伊冲突升级，芳烃继续强势-20260303

Report Industry Investment Rating - Not provided Core Viewpoints - Due to the escalation of the US-Iran conflict, aromatics continue to be strong. Affected by the US-Iran situation, styrene and pure benzene both remained strong during the day. With the Strait of Hormuz closure crisis having a huge impact on crude oil and oil prices rising further, pure benzene and styrene are likely to rise in the short term. Adopt the idea of going long at low prices after a pullback, and focus on tracking the current US-Iran situation and crude oil trends [1][3] Summary by Directory Fundamental Analysis - As of February 23, 2026, the global styrene operating rate was 72.80%, a month-on-month increase of 3.43% and a year-on-year decrease of 3.89%, at a relatively low level in the same period in the past six years [1] - As of February 24, 2026, the total inventory of the styrene port sample in Jiangsu was 158,100 tons, an increase of 61,900 tons or 64.35% from the previous period. The commercial inventory was 87,200 tons, an increase of 33,200 tons or 61.48% from the previous period [1] Macroeconomic Analysis - Six departments including the Ministry of Industry and Information Technology support photovoltaic component parts manufacturers such as photovoltaic glass, crystalline silicon materials, junction boxes, and aluminum frames to strengthen cooperation with comprehensive utilization enterprises of renewable resources [2] - The Fourth Session of the 14th National Committee of the Chinese People's Political Consultative Conference will open at 3:00 pm on March 4 in the Great Hall of the People and close on the morning of March 11, with a session of 7 days [2] - US President's special envoy Witkoff said that it is impossible to reach an agreement with Iran, and he described the meeting with Iranian officials as ineffective [2] - Shipping industry news shows that three oil tankers were attacked and damaged in the coastal waters of the Persian Gulf. On the other hand, shipping data shows that more than 200 vessels, including oil and liquefied gas tankers, are anchored in the Strait of Hormuz and nearby waters [2] Futures and Spot Market Analysis - Affected by the US-Iran situation, styrene and pure benzene both remained strong during the day. With the Strait of Hormuz closure crisis having a huge impact on crude oil and oil prices rising further, pure benzene and styrene are likely to rise in the short term. Adopt the idea of going long at low prices after a pullback, and focus on tracking the current US-Iran situation and crude oil trends [3]