China's Cumene Imports Reach $78M in June 2023

China

China Cumene Imports

In June 2023, China imported approximately 76K tons of cumene, which surged by 243% compared to the previous month. This marked a significant increase in imports, with the most rapid growth occurring in January 2023 when imports soared by 1,477%. However, from February to June 2023, the growth rate of imports failed to regain momentum, remaining relatively stable.

Looking at the value of cumene imports, it reached $78M in June 2023 according to IndexBox estimates. Over the review period, imports showed a slight expansion, with the most substantial increase occurring in January 2023 when imports grew by 1,576% month-on-month.

China Cumene Imports By Country (Million USD)

Imports by Country

The main suppliers of cumene imports to China were Singapore (42K tons), Japan (28K tons), and South Korea (6K tons), accounting for a combined 99.9% share of total imports.

From June 2022 to June 2023, South Korea experienced the most notable growth in terms of purchases with a CAGR of +8.0%, while the other leading suppliers witnessed more modest growth rates.

In terms of value, Singapore ($45M), Japan ($27M), and South Korea ($6M) were the largest cumene suppliers to China, holding a combined 99.9% share of total imports. Among them, Japan recorded the highest growth rate in the value of imports with a CAGR of +5.4%.

Import Prices by Country

In June 2023, the import price of cumene in China was $1,023 per ton (CIF), showing a decrease of -5.7% compared to the previous month. The overall trend of import prices indicated a noticeable decline, with the exception of a 6.4% increase in March 2023. The peak average import price was reached in July 2022 at $1,381 per ton, but from August 2022 to June 2023, import prices failed to regain momentum.

Average prices of cumene varied significantly among the major supplying countries, with Singapore having the highest price ($1,051 per ton) and Japan having one of the lowest prices ($986 per ton).

During the period from June 2022 to June 2023, Singapore saw the most notable growth rate in prices with a decline of -2.4%, while the prices for the other major suppliers experienced a decrease.



Source: IndexBox Market Intelligence Platform

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