芳烃日报：再次涨停-20260305

Report Overview - The report is an aromatic hydrocarbon daily report released by Guantong Futures on March 5, 2026, focusing on the fundamentals, macro - aspects, and futures - spot market analysis of the aromatic hydrocarbon industry [1] 1. Report Industry Investment Rating - Not provided 2. Core Viewpoints - Amid geopolitical situations, with new news from Singapore's PCS, both styrene and pure benzene hit daily limits. Although Iran's non - blockade of the Strait of Hormuz may affect short - term sentiment, market concerns remain. The energy crisis persists, and in the short term, pure benzene and styrene are likely to rise rather than fall. Adopt a low - buying strategy after price drops. Keep an eye on the current US - Iran situation and crude oil trends [3] 3. Summary by Directory 3.1 Fundamental Analysis - As of February 23, 2026, the global styrene operating rate was 72.80%, up 3.43% month - on - month and down 3.89% year - on - year, at a relatively low level for the same period in the past six years [1] - As of February 24, 2026, the total sample inventory of styrene ports in Jiangsu was 15.81 tons, an increase of 6.19 tons or 64.35% from the previous period. The commercial inventory was 8.72 tons, an increase of 3.32 tons or 61.48% from the previous period [1] - Singapore's PCS declared force majeure due to significant disruptions in maritime transportation and supply chains caused by the Middle East conflict. PCS is an important basic petrochemical supplier in Southeast Asia, mainly producing ethylene (about 1.1 million tons/year), propylene (about 900,000 tons/year), and other aromatic hydrocarbons and MTBE [1] 3.2 Macro - aspect Analysis - On the morning of the 5th local time, Iran's Deputy Commander of the Hatam al - Anbiya Central Command stated that Iran had not blocked the Strait of Hormuz and was handling ships passing through the strait according to international rules and established agreements [2] - The draft of the 14th Five - Year Plan proposes to implement the new energy security strategy, build a new energy system, and promote the replacement of fossil energy with non - fossil energy [2] - Iran's Revolutionary Guard Navy Commander said that Iran would target US and UK ships transporting goods for Israel in the Persian Gulf [2] - Minister of Industry and Information Technology Li Lecheng proposed to consolidate and deepen the results of "anti - involution" and strengthen production capacity monitoring, early warning, and comprehensive management [2] 3.3 Futures - Spot Market Analysis - Due to the geopolitical situation and new news from PCS, styrene and pure benzene hit daily limits. The news that Iran has not blocked the Strait of Hormuz may affect short - term sentiment, but market concerns remain. The energy crisis persists, and in the short term, pure benzene and styrene are likely to rise rather than fall. Adopt a low - buying strategy after price drops, and focus on the US - Iran situation and crude oil trends [3]