Lead: From October 30 to November 5, 2026, the domestic styrene market center of gravity shifted downward. The weekly average self-pickup price in Jiangsu stood at 1,1172 yuan/ton, a week-on-week decline of 450 yuan/ton, or 3.87%. This week, market expectations that the US-Iran conflict would ease led to a significant drop in international crude oil prices, thereby weakening cost support. Meanwhile, domestic plants resumed production, resulting in a slight increase in supply and inventory accumulation at Jiangsu ports. Although overall inventories remained low, they provided only limited support. Downstream buyers maintained rigid demand procurement, with widespread bearish sentiment and wait-and-see attitudes prevailing. Profit margins across the industry chain generally recovered; PS (polystyrene) and EPS (expanded polystyrene) returned to profitability, while ABS (acrylonitrile butadiene styrene) remained in deep deficit.
1. Crude Oil Prices Plunge, Benzene Follows Suit, Cost Support Weakens Significantly
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