China's benzene imports fell below 300kt since April 2022

China's benzene imports fell below 300kt since April 2022. CFR China benzene, covered to yuan price, was higher than domestic yuan benzene in June. The price spread widened to an average of 600yuan/mt. Discussions in CFR China cargoes muted and some downstream plants even cancelled contracts. In Jul, benzene imports were expected to increase fractionally, but still remained low at around 200-250kt.