South Korea exports 62% more benzene in May

24 June 2008 09:09  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s benzene exports in May increased by more than 62% over April, statistics from Korea International Trade Association (KITA) showed on Tuesday.

South Korea exported 124,464 tonnes of benzene in May, 62.5% more than the 76,602 tonnes in April.

The United States, a big importer of South Korean benzene, more than doubled its May imports to 50,124 tonnes month on month.

The increase has happened despite the arbitrage window being closed, as Asian prices during the month of May were almost on par with US spot values. But it remained to be seen if this trend would continue.

KITA’s May statistics also showed that Japan had more than doubled its benzene imports from South Korea to 24,083 tonnes, while Taiwan almost tripled its purchase to 23,507 tonnes.

Meanwhile, China decreased its May benzene imports from Korea, with a 15% month-on-month dip to 17,991 tonnes. Chinese imports of other South Korean chemicals such as naphtha and ethylene also fell at the same time.

Mahua Chakravarty contributed to this article
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By: Brian Myung
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