Lead: During August 28 – September 3, 2026, the domestic styrene market experienced a broad rally. The weekly average spot price for ex-warehouse delivery in Jiangsu stood at 9,388 yuan/ton, up 250 yuan/ton week-on-week, an increase of 2.74%. Over the period, the Middle East situation escalated anew, and international crude oil surged sharply on geopolitical risk stimuli, which in turn drove pure benzene prices higher and delivered robust support from the cost side. Domestically, styrene output edged up, yet port inventories in Jiangsu continued to decline, keeping spot supply relatively tight. However, downstream end-user recovery remained limited, with consumption from the 3S (PS, EPS, ABS) sector retreating month-on-month. Downstream processors grew increasingly resistant to elevated feedstock prices, maintaining only hand-to-mouth procurement, and higher-priced transactions struggled to gain traction.
1. US-Iran conflict escalates anew, crude oil surges, lending strong support from the cost side
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