China’s imports of styrene monomer fell to the lowest level in 16 months in August at 260,691 mt as demand weakened, data released Tuesday, September 23, by Chinese customs showed.
Month-on-month, imports fell 25.0%. Year-on-year they were down 26.8%.
The last time imports were lower was in April 2013 at 238,333 mt.
Imports from the largest supplier, South Korea, tumbled 45,748 mt, or 28.7%, from July to 113,539 mt in August, likely as a result of SK Global Chemical shutting one of its plants in late July due to poor margins.
CFR China SM prices fell 5.5% to $1,542/mt on August 29 from $1,632/mt on August 1 as inventory levels in China remained relatively high and demand from the expandable polystyrene sector was weaker than in previous years.
Imports from other large suppliers also fell month-on-month, with Japan down 51.5% to 27,919 mt, Saudi Arabia down 37.1% to 24,820 mt and Taiwan down 20% to 36,013 mt.
– Platts.com
