Lead: In March 2026, China's styrene imports stood at a mere 1.725 tons, plummeting by 99.97% month-on-month. Conversely, exports surged, registering a 344.70% year-on-year increase. Current market expectations indicate that April 2026 will continue to see minimal Chinese styrene imports, while exports are poised for further growth.

1. Import and Export Data Overview

In March 2026, China's styrene imports totaled only 1.725 tons, a decrease of 99.97% both month-on-month and year-on-year. The monthly average price is currently not a reliable reference. Cumulative imports for January-March reached 16,300 tons, down 78.05% year-on-year. This represents the second-lowest point in the past decade, surpassed only by the 1.532 tons imported in March 2024. March 2026 saw extremely low styrene imports into China.

2. Export Data Overview

In March 2026, China exported 84,500 tons of styrene, an increase of 55.95% month-on-month and 344.70% year-on-year. The monthly average price was $1,018.67 per ton. Cumulative exports for January-March totaled 199,200 tons, a year-on-year increase of 180.72%. This marks the fourth-highest monthly export volume for styrene in six years. Previous instances with higher monthly exports than March 2026 were April 2021 and April/May 2022. Those earlier surges were primarily driven by unplanned plant maintenance due to Gulf weather conditions, leading to market shortages. In contrast, the increase in March 2026 stems from China's ongoing styrene capacity expansion, ensuring ample domestic supply. Additionally, geopolitical tensions in the Middle East have driven up energy and chemical product prices, causing cost-related production cuts at some overseas plants and consequently boosting intercontinental buying interest.

3. Import and Export Structure

3.1 Imports

3.1.1 Trading Partners

In March 2026, China imported a small quantity of styrene from five countries based on trade partner statistics. South Korea was the largest source, with 1.04 tons imported, accounting for 60.29% of total March imports.

China Styrene Imports by Trading Partner (March Data)

| Trading Partner | Import Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| Japan | 0.2 | 1,784 | 8,920.00 |
| Malaysia | 0.48 | 3,998 | 8,329.17 |
| South Korea | 1.04 | 2,160 | 2,076.92 |
| Germany | 0 | 25 | -- |
| Netherlands | 0.005 | 317 | 63,400.00 |
| Total | 1.725 | 8,284 | 4,802.32 |

Data Source: General Administration of Customs

3.1.2 Trade Mode

In March 2026, China's styrene imports utilized only one trade mode based on statistics: General Trade.

China Styrene Imports by Trade Mode (March Data)

| Trade Mode | Import Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| General Trade | 1.725 | 8,284 | 4,802.32 |

Data Source: General Administration of Customs

3.1.3 Place of Registration

In March 2026, based on the place of registration for imports, styrene entered China through two provinces. Data indicates that imports via Liaoning Province were predominant, totaling 1.072 tons, or 62.14% of total March imports.

China Styrene Imports by Place of Registration (March Data)

| Place of Registration | Import Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| Liaoning Province | 1.072 | 2,571 | 2,398.32 |
| Shanghai Municipality | 0.653 | 5,713 | 8,748.85 |
| Total | 1.725 | 8,284 | 4,802.32 |

Data Source: General Administration of Customs

3.2 Exports

3.2.1 Trading Partners

In March 2026, China exported styrene to 20 countries and regions based on trade partner statistics. The top three destinations were South Korea, India, and Turkey, with combined exports of 65,200 tons, representing 77.21% of total March exports. These were significant export destinations for Chinese styrene. Customs data shows that exports to South Korea were the highest at 29,914.823 tons, accounting for 35.41% of total March exports.

China Styrene Exports by Trading Partner (March Data)

| Trading Partner | Export Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| South Korea | 29,914.823 | 30,630,824 | 1,023.93 |
| India | 22,345.537 | 20,671,684 | 925.09 |
| Turkey | 12,957.61 | 14,882,371 | 1,148.54 |
| Hong Kong, China | 9,100 | 8,947,800 | 983.27 |
| Malaysia | 5,705.789 | 6,076,665 | 1,065.00 |
| Japan | 3,000 | 2,970,000 | 990.00 |
| Peru | 328.32 | 391,543 | 1,192.57 |
| Ecuador | 253.44 | 302,104 | 1,192.01 |
| Venezuela | 250.92 | 307,957 | 1,227.31 |
| Australia | 164.4 | 234,518 | 1,426.51 |
| Kenya | 131.04 | 219,398 | 1,674.28 |
| Philippines | 100.8 | 135,925 | 1,348.46 |
| Sri Lanka | 54.72 | 79,929 | 1,460.69 |
| Bangladesh | 50.4 | 60,648 | 1,203.33 |
| Vietnam | 36 | 38,880 | 1,080.00 |
| Djibouti | 25.2 | 30,240 | 1,200.00 |
| Costa Rica | 21 | 23,019 | 1,096.14 |
| Singapore | 14.4 | 20,586 | 1,429.58 |
| Kazakhstan | 12.06 | 17,415 | 1,444.03 |
| Tanzania | 3.6 | 5,531 | 1,536.39 |
| Total | 84,470.059 | 86,047,037 | 1,018.67 |

Data Source: General Administration of Customs

3.2.2 Trade Mode

In March 2026, China's styrene exports primarily utilized two trade modes. General Trade accounted for 68,242.926 tons, or 80.79% of total March exports, remaining the dominant export mode.

China Styrene Exports by Trade Mode (March Data)

| Trade Mode | Export Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| General Trade | 68,242.926 | 71,494,192 | 1,047.64 |
| Processing Trade with Imported Materials | 16,227.133 | 14,552,845 | 896.82 |
| Total | 84,470.059 | 86,047,037 | 1,018.67 |

Data Source: General Administration of Customs

3.2.3 Place of Registration

In March 2026, based on the place of registration for exports, styrene was exported from nine provinces. Zhejiang Province was the largest exporter, with a volume of 26,033.004 tons, accounting for 30.82% of total March exports. Shanghai Municipality and Tianjin Municipality ranked second and third respectively. The top three regions combined accounted for 67.88% of total March exports. Market sources indicate that March exports were primarily direct dispatches from coastal producers.

China Styrene Exports by Place of Registration (March Data)

| Place of Registration | Export Volume (Tons) | Value (USD) | Average Price (USD/Ton) |
|---|---|---|---|
| Zhejiang Province | 26,033.004 | 26,743,956 | 1,027.31 |
| Shanghai Municipality | 19,596.109 | 22,265,809 | 1,136.24 |
| Tianjin Municipality | 11,708.005 | 9,324,579 | 796.43 |
| Shandong Province | 9,291.961 | 9,207,062 | 990.86 |
| Liaoning Province | 9,082.81 | 9,667,914 | 1,064.42 |
| Guangdong Province | 5,100 | 4,987,800 | 978.00 |
| Jiangsu Province | 2,982.21 | 2,910,921 | 976.10 |
| Henan Province | 647.16 | 900,260 | 1,391.09 |
| Fujian Province | 28.8 | 38,736 | 1,345.00 |
| Total | 84,470.059 | 86,047,037 | 1,018.67 |

Data Source: General Administration of Customs

4. Trend Forecast

According to current market information, domestic styrene imports in April 2026 are expected to be below 10,000 tons, while exports are projected to reach 200,000 tons. Domestic styrene supply is ample, with recent capacity utilization rates generally maintaining around 72%. Competition within the domestic market is intense. Furthermore, Chinese styrene prices are lower than intercontinental market prices. Price differentials between China and neighboring regions like Japan and South Korea, as well as between China and far-flung markets like Europe and the Americas, have widened, theoretically opening an arbitrage window. Additionally, the ongoing Middle East conflict makes it difficult for Middle Eastern styrene to enter China, while simultaneously causing some Asian petrochemical companies to reduce cracking operations, thereby boosting styrene demand in the intercontinental market. Overall, it is anticipated that China's styrene imports will remain low in April, while exports will continue to see significant growth.