China’s styrene monomer imports from the US almost tripled in April, amid major turnarounds taking place in South Korea — China’s main supplier — over March-May, trade sources said Monday, May 25.
China imported 48,213 mt of SM from the US in April, up 32,138 mt or 199.9% from March, data released Monday by China’s General Administration of Customs showed.
China’s SM imports from South Korea in April tumbled 45,175 mt, or 41.8%, on month to 62,809 mt, data showed.
Typically, China imports around 12,000-15,000 mt of SM from the US and around 100,000 mt from South Korea, Chinese customs data showed.
In 2014, 38% of China’s SM imports came from South Korea, 25% from the Middle East and 4% from the US, Platts analysis of Chinese customs data showed.
Up to seven of the eight SM plants in South Korea, or around 76% of the country’s total SM production capacity, has shut for maintenance over March-May, Platts has reported.
The Asian SM market has been tight in the first and early second quarter of 2015 due mainly to a spate of turnarounds in main supplier South Korea.
China’s total monthly SM imports in April, however, showed a moderate increase, rising 2.4% from March to 331,935 mt, data showed.
