Q4 Import Expectation via Changes in BD Import Data in South Korea
According to SCI’s tracking data, by September 23, the average butadiene price in Jiangsu and Zhejiang market was RMB 7,375/mt, down 47% from the highest price of RMB 13,900/mt within this year. The market price of butadiene in China kept falling. South Korea, the most important butadiene export market of China, faced changes in the import market. When will South Korea import butadiene again?
According to SCI’s tracking data, by September 23, the average price of butadiene in Jiangsu and Zhejiang market was closed at RMB 7,375/mt, down 47% from the highest price of RMB 13,900/mt within this year. By September 17, the average price of butadiene was $965/mt (CFR China), down around 38% from the highest price of $1,550/mt in mid-July.
From January to August 2021, South Korea imported around 282kt of butadiene in total, up 1% Y-O-Y and down around 3% from 2019. Therefore, as seen from the butadiene import status in South Korea, the total import volume saw minor adjustments. As seen from the import origins of South Korea, the import volume of butadiene from China ramped up to 40%, which was far higher than the import volume from Brazil, Taiwan Province of China and Japan.
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