China's May styrene export up 55 pct on month
China's styrene export apparently increased in June 2022, exceeding import for the second time.
According to China Customs, China exported 155kt styrene in June 2022, up 55kt or 55% month on month, and up 113.4kt or 272.62% year on year. In the first five months, China's styrene exports totaled 341.7kt, up 151.4kt or 79.56% from the same period last year.
Among destinations in June, around 45% was exported to South Korea, 23% to Turkey and 12% to Netherlands.
Many styrene plants in the US were closed in April, with total capacity more than 50% of US total, leading to less exports to South Korea. Those maintained plants have been gradually restarted since the second half of May. However, cargo loadings remained low in June and the arrivals to South Korea might be around August. In addition, uncertainties remained in the styrene unit operations due to high benzene prices in the USGC market.
According to discussions and loadings for export cargoes, China's styrene exports will recede in the coming months, but are likely to be higher than 50kt in June and July. And it is uncertain whether the export could sustain since August.
As for imports, June figure increased by 43.7kt or 95.21% from May but down 21kt or 18.99% year on year. In the first five months of 2022, imports totaled 522kt, down 208kt or 28.49% from the same period last year.
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