S Korea's butadiene exports rise 75% on month to 21,228 mt in December

South Korea's butadiene exports rose 75.2% on the month and 216.4% on the year to 21,228 mt in December, according to data released by South Korean Customs and Trade Development Institute Jan. 12.

In 2021, South Korea's butadiene exports stood at 193,353 mt, up 29% from the previous year, the data showed.

The export volume to China stood at 10,952 mt in December, rising almost three times from 3,985 mt in November, the data showed. In December, South Korea's domestic butadiene demand was weaker due to downstream plant turnarounds, which raised export volumes to China.

South Korea's butadiene exports to China would likely slide in the near term however, in line with rising butadiene production in China amid new plant startups, market sources said.

South Korea's butadiene exports to the US rose 22% on the month to 5,360 mt in December, the data showed. This was significantly lower than 11,623 mt recorded in September, the data showed.

Market sources said South Korea's butadiene exports to the US would likely increase in the coming months as South Korean producers were actively seeking opportunities to move their excess cargoes.

So far for January to February, four cargoes totaling 21,500 mt have been fixed from South Korea to the US. A 5,500-mt cargo from South Korea has been fixed to the US for loading in January, while three cargoes totaling 16,000 mt have been fixed for loading in February.

In 2021, South Korea's butadiene exports to the US stood at 91,442 mt, more than double the volume of 42,424 mt seen a year earlier, according to the data.