【现货方面】 11月26日，华东市场苯乙烯市场冲高震荡，港口库存走高，浙江石化上游装置检修带动芳烃类价格走 高，随着月底纸货交割，带动补空成交，整体交投气氛好转，下游高价采购跟进乏力，苯乙烯行业利润 修复，整体货源供应充足。据PEC统计，至收盘现货6550~6590（12合约+70~80），12月下6580~6640 （12合约+115），1月下6610~6660（01合约+115），单位：元/吨。 【利润方面】 11月26日，非一体化苯乙烯装置利润至69元/吨附近。 苯乙烯供应：截至11月20日，苯乙烯整体产量在34.29万吨（-0.15万吨），开工率至68.95%（-0.3%）。 苯乙烯库存：截至11月24日，江苏苯乙烯港口样本库存总量：16.42万吨，较上周期增加1.59万吨；商品 量库存在9.42万吨，较上周期增加0.69万吨。苯乙烯下游：截至11月20日，EPS产能利用率56.27% （+4.64%）；PS产能利用率55.90%（+0.5%）；ABS产能利用率72.4%（+0.6%）。 【行情展望】 随着苯乙烯利润修复，部分工厂负荷提升，但同时有部分装置停车检修，整体货源供应有限；部分下游 受成品高 ...

Group 1: Report Core Views - Domestic styrene profit is low and the domestic styrene operating rate decreased. As of September 11, 2025, the domestic styrene operating rate was 74.98%, a decrease of 4.76 pct compared to the previous period and an increase of 5.6 pct year - on - year. The weekly output was 354,000 tons, a decrease of 22,500 tons from the previous period [2]. - Overseas, there are new styrene device overhauls in Malaysia and Belgium. As of September 15, 2025, the overseas styrene operating rate was 81.8%, a decrease of 1.9 pct compared to the previous period and a decrease of 0.1 pct year - on - year, at a relatively low level compared to the same period in the past five years [2]. - The global styrene operating rate is at a neutral level. As of September 15, 2025, the global styrene operating rate was 78.5%, a decrease of 3.3 pct compared to the previous period and an increase of 2.33 pct year - on - year [2]. Group 2: Specific Data Summaries - Domestic styrene: As of September 11, 2025, the operating rate was 74.98%, weekly output was 354,000 tons. As of September 15, the non - integrated profit was - 307 yuan/ton [2]. - Overseas styrene: As of September 15, 2025, the operating rate was 81.8%. The US INEOS 500,000 - ton styrene overhaul plan was postponed to January 2026, a 240,000 - ton styrene device in Malaysia started a 20 - day overhaul at the end of August, and a 440,000 - ton styrene device in Belgium started a one - month overhaul in mid - September [2]. - Global styrene: As of September 15, 2025, the operating rate was 78.5% [2].