US November 2021 benzene exports fall 83% on month: USITC

November 2021 US benzene exports fell 83% from October to 15,292 mt, according to US International Trade Commission data Jan. 7.

Total US exports to China in November fell 83% month on month to 9,091 mt. China was the top destination for US exports, followed by Canada. There were no exports to the Netherlands in November, as compared with 29,014 mt in October.

Benzene exports declined as opportunistic arbitrages in October with China and Europe closed in November amid US domestic supply lengthdue to reduced derivative styrene operating rates. Average January-November monthly exports in 2021 stood at 19,976 mt, up from the year-ago monthly average of 5,799 mt.

The US is typically a net importer of benzene, but were down 4.53% in November.

January-November imports totaled 1.422 million mt in 2021, compared with 1.78 million mt in the prior-year period. US average monthly imports stood at 129,352 mt for January-November, compared with average monthly imports of 178,717 mt in the 2020 period.

Lower imports proved the result of a closed arbitrage with South Korea throughout much of November, with total imports for the month at 17,498 mt. This stands above 15,744 mt of total imports from South Korea in October, but below the January-November monthly average of 47,687 mt and further below the January-November 2020 monthly average of 55,484 mt for imports from South Korea to the US.

Additionally, a 67% decline, to 5,534 mt, from Canada from October to November further contributed to the lower imports. Japan was the highest source of imports to the US in November at 23,358 mt, up 43% month to month, followed by South Korea and Colombia.