2023 Global Styrene Units Turnarounds Schedule and Analysis
The import dependency of China's styrene is expected to fall to less than 5% in 2023, and it is difficult for imported goods to directly affect China's prices. However, changes in foreign styrene units are still the key information, which is related to China's styrene export, and of course, also indirectly affect China's prices.
The maintenance plan of styrene units outside Chinese Mainland in 2023 will bemore than that in the past two years. The maintenance peak season will be in May and October, which is also in line with the background of poor profits of styrene units. The two to three months before the maintenance peak season are also the time when exports are more likely to occur. Exports in 2023 are also more affected by logistics, transportation and currency, and the overall export situation is not as optimistic as that in 2022.
In 2023, South Korea is expected to have the largest output loss caused by maintenance, followed by Europe and the Middle East. South Korea has gradually become a net importer since 2022, and China is the main source of imports for South Korea. However, from the perspective of China's long-term import contract from the Middle East in 2023, the Middle East has shifted its export target from China to India and South Korea to compete with China's export resources. Therefore, China's export will also face certain pressure in 2023. Chinese export traders need to find new opportunities and directions.
In 2022, the actual output loss caused by maintenance in America and Europe is the largest. The main reasons are as follows:
1. The cold wave weather in the United States has hindered the production of some manufacturers, and there are more maintenance plans in the United States in 2022.
2. The energy crisis in Europe has led to an increase in production costs, which has affected production enthusiasm. In addition, many units shut down unexpectedly due to faults.
From the orders of styrene export to the Middle East in the fourth quarter of 2022, it can be found that the ships used to export styrene are basically those used to import pure benzene, which can save logistics costs, and make the linkage between overseas benzene and styrene resources stronger. This also reflects the need for enterprises to have a holistic view of trade.
Attached is the schedule for the overhaul of styrene units outside Chinese Mainland in 2023. For details, please refer to 2022-2023 China Styrene Market Annual Report.
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