April Styrene Import Volume Remained Low
In April 2025, China’s styrene trade with rising volume but declining price. Persistent price inversion between domestic and international markets curbed import demand, with nearly all imports relying on contract supplies from Saudi Arabia. East China remained the primary import hub. Exports shifted to South Korea and Turkey amid maintenance-driven supply gaps in Asia and Europe, with Zhejiang-based enterprises contributing over 60% of exports. In May, imports stayed low, however, driven by overseas plant restarts and domestic tight supply, exports may retreat to around 35kt.
According to GACC, China’s styrene trade in April 2025 saw both import and export volume rise amid price decline. April imports reached 6.7kt, up 16.29% MoM but down 67.46% YoY, with an average import price of $1,004.82/mt, down 3.83% MoM and 15% YoY. Cumulative imports from January to April totaled 80.9kt, down 29.65% YoY. Exports surged to 59kt, up 167.97% MoM and up 110.84% YoY, with an average price of $993.77/mt, down 5.20% MoM and 14.32% YoY. Cumulative exports from January to April hit 133kt, up 75.14% YoY.
Import Volume Remained Low.
April’s styrene imports rose MoM but remained low. Persistent domestic-international price inversion (-$103.3/mt to -$367.3/mt range, averaging -$184.0/mt monthly) blocked arbitrage opportunities. Meanwhile, unplanned shutdowns at European plants—including a 550kt/a unit in the Netherlands (mid-April) and a 550kt/a unit in Germany—created regional supply gaps, diverting global cargoes to Europe. China’s imports remained contract-dependent.
Saudi Arabia dominated April imports with a 99.96% share, as its restarted styrene units resumed contract supplies to China since late February. Receiving regions concentrated in East China: Jiangsu accounted for 99.96%, Shanghai 0.01%, with Liaoning newly added at 0.03% share. By trade mode, general trade imports fell to 57.16% MoM, down 42.84%, while processing trade surged from zero to 42.84%.
Zhejiang Became the Main Export Province
Global styrene supply tightened in April 2025 due to concentrated unit maintenance. Europe faced additional supply gaps beyond planned shutdowns, while Asia entered synchronized maintenance cycles. South Korea’s 650kt/a unit and Taiwan’s 720kt/a unit halted as scheduled, alongside an unplanned stoppage at Japan’s 120kt/a unit. This shifted export growth to Europe and Asia. Exports to South Korea totaled 28kt, claiming a 41.51% share but down 53.47% MoM. Europe-bound shipments reached 30kt, with Turkey receiving 18.6kt and the Netherlands 11.4kt, accounting for 31.54% and 19.41%, respectively.
Zhejiang became the top export hub, contributing 63.14% of total exports, up 36.06% MoM. Tianjin ranked second at 13.90%, up 12.67% MoM, followed by Shandong at 12.35%, down 29.99% MoM. Minor exports originated from Shanghai, Henan, and Liaoning. By trade mode, general trade accounted for 88.16% of exports, up 28.29% MoM, while processing trade dropped to 11.84%, down 28.92% MoM.
In May, the domestic-international price inversion persists, keeping the arbitrage window closed. Imports are expected to remain contract-driven for downstream plants, likely staying below 10kt. On the export side, as maintenance units in Japan, South Korea, and Taiwan gradually resume operations, domestic supply cuts exceed expectations, with Shandong Lihuayi Group’s maintenance plan taking effect and an unplanned shutdown at Hengli petrochemical’s unit. Despite declining port inventory, no incremental export discussions have emerged. May exports may retreat to around 35kt.
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