Core Viewpoint - The styrene market shows a slight increase in prices due to rising crude oil prices, while the supply and demand dynamics indicate mixed trends in production and consumption across different downstream sectors [1] Supply Analysis - Styrene main contract rose by 0.86% to 7759 CNY/ton, while pure benzene spot price decreased by 15 CNY/ton to 6395 CNY/ton [1] - Styrene inventory at sample factories decreased by 0.6 million tons to 18.5 million tons, a 3.5% decrease month-on-month [1] - Jiangsu port inventory fell by 0.9 million tons to 8.0 million tons, a 10.2% decrease month-on-month [1] - Styrene weekly production increased by 2.1% to 338,000 tons, with a capacity utilization rate of 73.8%, up by 1.5% [1] Demand Analysis - The operating rates of downstream sectors showed variability: EPS utilization rate increased by 9.1% to 55.5%, ABS utilization rate slightly rose by 0.1% to 64.1%, while PS utilization rate decreased by 0.9% to 58.3% [1] - Overall demand in the downstream sector showed a slight decline, with a narrowing weekly supply-demand gap [1] Market Dynamics - Pure benzene supply continues to increase due to the restart of previously shut down facilities, leading to improved industry operating rates [1] - Recent geopolitical conflicts in the Middle East have caused a rebound in international crude oil prices, which has increased the cost of upstream raw materials, thereby supporting styrene prices [1] - Despite the recent price increases, the fundamental market conditions do not indicate a significant turning point, with inventory levels not showing a clear downward trend [1]