S Korea exports less aroms, more polymers in July

26 August 2008 05:35  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea has recorded a significant dip in its aromatics exports but posted healthy growth in the polymer chain for the month of July 2008, according to statistics released by the Korean International Trade Association (KITA), late on Monday.

Toluene exports fell almost 58% to 33,502 tonnes as compared to 79,047 tonnes in the previous corresponding period as the run up to the Beijing 2008 Olympic games dampened market activity resulting in lower downstream demand.

Exports to Taiwan showed a 27% drop to 21,003 tonnes while cargoes bound for China reported a 44% dip to 8,831 tonnes from 15,830 tonnes year on year, the data showed.

The statistics also showed significant decrease in export activities for mixed-xylenes (MX), para-xylene (PX) and ortho-xylene (OX) on weaker downstream purified terephthalic acid (PTA) demand that posted a 36% drop to 202,397 tonnes from 318,957 tonnes in the previous corresponding period.

In the polymers segment, polyethylene (PE) showed a healthy 19.8% growth to 115,882 tonnes while low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) exports rose 26% and 17% respectively.

Naphtha imports posted the most significant increase of almost 47% to 1.55m tonnes from 1.06m tonnes in the previous corresponding period as the country stocked up on inventories in fear of supply scarcity during the Olympics coupled with the expansion at Lotte Daesan’s 350,000 tonne/year cracker that was completed in June 2008.

Product	Export (tonnes)		Import (tonnes)
	2008	2007	2008	2007
Naphtha	245,771 (47.8%)	166,195	1,554,545 (46.9%)	1,057,936
Olefins
Ethylene	82,244 (15.3%)	71,334	8,027 (-3.2%)	8,295
Propylene	49,384 (-7.9%)	53,607	14,571 (-31.8%)	21,361
Butadiene	12,835 (-21.5%)	16,357	20,157 (41%)	14,293
Polymers
PE and hdPE	115,885 (19.8%)	96,655	897 (56.8%)	572
ldPE	20,751 (26.3%)	16,422	1,698 (15.5%)	1,470
lldPE	38,307 (17.3%)	32,660	1,046 (51.3%)	691
PP	87,613 (7.7%)	81,298	1,944 (124%)	866
Aromatics
Benzene	95,227 (6.5%)	89,382	21,044 (44.3%)	14,583
Toluene	33,502 (-57.6%)	79,047	13,707 (-14.4%)	16,009
MX	8,852 (-89.0%)	80,537	1,002 (N.A)	0
PX	105,022 (-8.9%)	115,314	56,376 (-18.3%)	66,717
OX	5,982 (-49.3%)	11,791	4,939 (147%)	2,000
Others
SM	109,344 (-5.3%)	115,445	42,796 (22.1%)	35,045
PTA	202,397 (-36.5%)	318,957	175 (-9.8%)	88
PET	67,219 (-13.4%)	77,637	1,908 (29.8%)	1,469
BR	13,644 (-33.8%)	20,616	1,951 (135%)	828

Source : Korean International Trade Association (KITA)

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