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Styrene: analysis of China's styrene import and export data in the first quarter

Views: 0     Author: Site Editor     Publish Time: 2022-05-07      Origin: Site

In the first quarter of 2022, China's styrene import volume decreased significantly. According to the customs data, the cumulative import volume from January to march was 386600 tons, a significant decrease of 118600 tons or 23.47% over the same period in 2021. In the first quarter of this year, the average import price of styrene increased by 16.17% compared with the same period last year, showing a trend of price reduction and increase in import volume.

Due to the weakening demand of the epidemic and the centralized release cycle of domestic styrene production capacity, the styrene import volume has gradually decreased in recent three years, showing a downward trend. With the implementation and operation of China's large-scale refining and chemical integration project of styrene, the domestic styrene production capacity occupies the first place in Asia. According to statistics, China's new production capacity was 2.67 million tons in 2021. Up to now, the new production capacity that has been put into operation or put into operation in 2022 is 2.85 million tons / year. It has been significantly higher than the total new capacity of last year. Considering that other new capacity is planned to be put into operation in the second half of 2022, it is expected that the scale of production will continue to reach a new level this year. The pressure of this year's new production capacity on domestic supply is greater than that of last year. So as to continue to form a crowding out effect on China's import volume. This will inevitably have an impact on the import and export pattern of styrene in China. It is expected that under the background of a large number of new production capacity, it will not only have an impact on domestic non integrated production, but also have a considerable extrusion effect on the import volume. It is expected that the overall import volume will continue to shrink this year.

Customs data show that China's styrene export volume in the first quarter of 2022 was 86600 tons, a significant increase of 99.93% and nearly double compared with 43300 tons in the first quarter of 2021. It is expected to maintain a high export level in April. This year's export data maintained a growth momentum. On the one hand, due to the significant increase in domestic new production capacity, the rebound of the epidemic in various places and the control of the epidemic in many places have affected the recovery of demand to a certain extent. On the other hand, under the pressure of higher energy costs, the profits of enterprises have suffered serious losses, and the overseas prices are much higher than those in the domestic market. The European and American markets are subject to the inflation and tight supply of energy commodities, and the prices are at a historically high level. The relatively high premium arbitrage space with Asian prices has increased the export interest of Asian and Chinese exporters and producers, expanding the export channels.

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