1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - Raw material issues are affecting domestic and international supplies, leading to a decline in the global styrene operating rate [1] 3. Summary by Related Catalogs Domestic Styrene Situation - As of March 12, 2026, the domestic styrene operating rate was 71.79%, a decrease of 2.32 pct compared to the previous period and 3.13 pct compared to the same period last year. The weekly output was 360.1 thousand tons, a decrease of 11.6 thousand tons from the previous period. An equipment in East China was shut down for planned maintenance, and equipment in North and East China made small load adjustments, resulting in an overall decline in output [1] Overseas Styrene Situation - As of March 16, 2026, the overseas styrene operating rate was 74.48%, a decrease of 0.66 pct compared to the previous period and 8.57 pct compared to the same period last year, at a relatively low level compared to the same period in the past six years. In early March, a 370 - thousand - ton production capacity device of South Korea's YNCC reduced its load due to raw material issues [1] Global Styrene Situation - As of March 16, 2026, the global styrene operating rate was 73.11%, a decrease of 1.51 pct compared to the previous period and 6.10 pct compared to the same period last year, at a relatively low level compared to the same period in the past six years [1]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint The profit of styrene is good, with the domestic operating rate rising and the overseas operating rate falling. The global styrene operating rate is at a relatively low level [1]. 3. Summary by Related Content - **Domestic Styrene Operating Rate**: As of February 26, 2026, the domestic styrene operating rate was 74.24%, a week - on - week increase of 1.04 pct and a year - on - year decrease of 1.46 pct. The weekly output was 37.24 tons, an increase of 0.53 tons from the previous period. A device in North China increased its load after maintenance, and a device in East China restarted and increased production after maintenance, with no new shutdowns or load reductions [1]. - **Overseas Styrene Operating Rate**: As of March 2, 2026, the overseas styrene operating rate was 75.15%, a week - on - week decrease of 2.58 pct and a year - on - year decrease of 7.14 pct, at a relatively low level compared to the same period in the past five years. The 575,000 - ton/year Carville device in the United States planned to be under maintenance from early March to early April and had already stopped for maintenance [1]. - **Global Styrene Operating Rate**: As of March 2, 2026, the global styrene operating rate was 74.68%, a week - on - week decrease of 0.74 pct and a year - on - year decrease of 4.50 pct, at a relatively low level compared to the same period in the past six years [1].

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - Global styrene operating rates are at a relatively low level. As of January 19, 2026, the global styrene operating rate was 72.0%, down 0.5 pct month - on - month and 7.4 pct year - on - year, at the lowest level in the same period in the past six years [3] 3. Summary by Related Content Domestic Styrene Situation - As of January 15, 2026, the domestic styrene operating rate was 70.86%, down 0.06 pct month - on - month and 7.7 pct year - on - year. The weekly output was 35.54 tons, a decrease of 0.03 tons from the previous period. Domestic styrene plants were basically stable, with a plant in East China having a short - stop and a plant in South China increasing its load [3] Overseas Styrene Situation - As of January 19, 2026, the overseas styrene operating rate was 73.2%, down 0.9 pct month - on - month and 7.8 pct year - on - year, at a relatively low level compared to the same period in the past five years. The 350,000 - ton FCFC2 plant in Taiwan, which shut down in mid - November 2025, restarted in mid - January 2026. A 550,000 - ton styrene plant in Saudi Arabia had an unexpected short - stop on January 15, and its originally planned maintenance in March or April would proceed as normal [3]

Report Summary 1) Report Industry Investment Rating - No information provided 2) Core Viewpoints of the Report - As of November 20, 2025, the domestic styrene operating rate decreased slightly, while overseas and global styrene operating rates increased, but all were at relatively low levels compared to the same period in previous years [3] 3) Summary by Related Catalogs - **Domestic Styrene Situation** - As of November 20, 2025, the domestic styrene operating rate was 68.95%, a month - on - month decrease of 0.3 pct and a year - on - year increase of 3.0 pct [3] - The weekly output was 34.29 tons, a decrease of 0.15 tons from the previous period. One unit in East China restarted, and one unit each in Northeast, East, and South China adjusted their loads, resulting in a slight decline in output [3] - **Overseas Styrene Situation** - As of November 24, 2025, the overseas styrene operating rate was 74.6%, a month - on - month increase of 2.3 pct and a year - on - year decrease of 12.1 pct, at a relatively low level compared to the same period in the past five years [3] - The 525,000 - ton US Amsty unit and the 580,000 - ton South Korea Lotte unit restarted [3] - **Global Styrene Situation** - As of November 24, 2025, the global styrene operating rate was 71.8%, a month - on - month increase of 1.0 pct and a year - on - year decrease of 4.7 pct, at the lowest level in the past six years [3]

Group 1: Report Core Information - The report is about the global styrene market situation as of November 2025 [1][3] Group 2: Domestic Styrene Situation - As of November 6, 2025, the domestic styrene operating rate was 66.94%, a week - on - week increase of 0.22 pct and a year - on - year decrease of 0.9 pct [3] - The weekly output was 33.29 tons, an increase of 0.95 tons from the previous period. The restart of maintenance of units in North and South China and the normal production of new units in Northeast and South China led to an overall increase in domestic supply [3] Group 3: Overseas Styrene Situation - As of November 10, 2025, the overseas styrene operating rate was 75.2%, a week - on - week decrease of 2.75 pct and a year - on - year decrease of 10.9 pct, at a relatively low level in the past five - year comparison [3] - A 635,000 - ton line of LyondellBasell in the US started maintenance in November, and a 240,000 - ton INEOS device in Belgium restarted in early November [3] Group 4: Global Styrene Situation - As of November 10, 2025, the global styrene operating rate was 71.1%, a week - on - week decrease of 1.4 pct and a year - on - year decrease of 6.9 pct, close to the lowest level in the past six years [3]

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints - Global styrene start - up is at a low level, with domestic and overseas start - up rates showing different trends and new overseas device maintenance plans [3] Group 3: Summary by Relevant Content Domestic Styrene Situation - As of October 23, 2025, the domestic styrene start - up rate was 69.3%, a week - on - week decrease of 2.6 pct and a year - on - year decrease of 1.1 pct. The weekly output was 32.7 tons, a decrease of 1.24 tons from the previous period. One device in the Northeast restarted and one in the South stopped, and the impact of the stopped devices led to a decline in weekly output [3] Overseas Styrene Situation - As of October 27, 2025, the overseas styrene start - up rate was 76.9%, with no week - on - week change and a year - on - year decrease of 10.8 pct, at a low level in the past five years. There are new maintenance plans for two devices: TSMC's 160,000 - ton styrene device in Taiwan and Guochiao's 150,000 - ton styrene device, both possibly to be maintained from November to December [3] Global Styrene Situation - As of October 27, 2025, the global styrene start - up rate was 74.4%, a week - on - week decrease of 0.9 pct and a year - on - year decrease of 5.3 pct, at a low level [3]

Group 1: Report Information - Report title: Overseas start - up rebounds, global start - up at a low level [1] - Report date: October 14, 2025 [1] Group 2: Industry Investment Rating - No relevant information provided Group 3: Core Viewpoints - Domestic styrene start - up rises while overseas and global start - up are at relatively low levels [3] Group 4: Summary by Content Domestic Styrene - As of October 9, 2025, the domestic styrene start - up rate is 73.6%, with a week - on - week increase of 2.37 pct and a year - on - year increase of 3.2 pct [3] - The weekly output is 34.75 tons, an increase of 1.11 tons from the previous period due to the restart of two units in East China and the load increase of a unit in South China [3] Overseas Styrene - As of October 13, 2025, the overseas styrene start - up rate is 76.9%, a week - on - week increase of 2.3 pct and a year - on - year decrease of 3.99 pct, at a relatively low level in the past five years [3] - There is a new Amsty maintenance overseas, and three units of Cosmar, SMI and Idemitsu are restarted [3] Global Styrene - As of October 13, 2025, the global styrene start - up rate is 75.3%, a week - on - week increase of 1.3 pct and a year - on - year decrease of 0.75 pct, at a low level [3]

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].