Costs first strong then weak; low port inventories underpin styrene market.

Lead-in: During August 21–27, 2026, domestic styrene prices surged before pulling back. The weekly average spot price for self-pickup deliveries in Jiangsu stood at 9,138 yuan/ton, up 3.76% week on week. Although domestic downstream demand remained weak over the period, rising export volumes partly filled the demand gap. Meanwhile, international crude oil prices rallied sharply before retreating, yet the weekly average still climbed, lending intermittent support from the cost side. Coupled with a significant inventory drawdown at Jiangsu ports that provided a strong floor of support, these factors collectively lifted the center of gravity of the styrene market upward.

1. U.S.–Iran mediation expectations unsettled crude oil, sending prices on a rally-and-retreat trajectory; cost-side support was strong at first but weakened later.