China Styrene Imports Dented in Oct on Recovered Foreign Demand
In September and October, styrene supply overseas was relatively tight due to improving demand and unit maintenance, leading to high prices in the overseas market. As a result, fewer resources were imported to China amid slack import negotiations. In October, styrene imports saw an M-O-M decline of 76.84%, while the export volume inched up by 0.71%. In the future market, the import volume is expected to remain in a downward trend considering the underperformed end demand, and the export volume is also unlikely to see notable rises given the off-peak demand season.
According to customs data, in October 2023, China’s styrene imports significantly decreased and exports slightly increased. The import volume in October was 22.9kt, a decrease of 54.29% M-O-M and 76.84% Y-O-Y. The average import price was $1,054.1/mt, an increase of 4.7% M-O-M and a decrease of 4.29% Y-O-Y. In terms of export data, the export volume in October was 26.7kt, an increase of 0.71% M-O-M and a Y-O-Y increase of 28,734.01%
Trade partner: Imports mainly came from the Middle East region, and exports mainly flowed to Asian regions.
Imports from Saudi Arabia still ranked first, with a volume of 22.9kt. However, China’s traders didn’t import goods from Japan and Taiwan of China in October.
In terms of export trade partners, the top three were still South Korea, Turkey and Hongkong of China. The export volume to South Korea was 14kt, and that to Turkey and Hongkong of China was 6.8kt and 5.6kt respectively.
Place of receipt and delivery: East China was the main purchasing and selling location, while the export business volume in South China increased M-O-M.
In terms of imports, enterprises in Zhejiang province imported the largest volume of styrene at 95.4kt, accounting for 41.66% of the total imports. Followed by Jiangsu Province and Sichuan Province, importing 66.8kt and 47.7kt of styrene, with a share of 29.17% and 20.83% respectively.
Regarding exports, Zhejiang-based enterprises still ranked first, with an export volume of 127.6kt, accounting for 47.88% of the total exports. Shandong-based enterprises exported 106kt of styrene, accounting for 39.76% of the overall exports, ranking second. Jiangsu-based enterprises exported 31.2kt of styrene in October, with a share of 7.25% and ranking third.
The main mode of import and export trade was general trade.
According to import data, in October, all imports were traded via general trade. The main export trade methods were general trade and processing trade with imported materials. The export volume via general trade was 16.2kt, accounting for approximately 70.54% of the overall export volume. The export volume via processing trade was 10.5kt, accounting.
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