Shipping lane recovery to lift China naphtha supply

Source: Mysteel Jun 18, 2026 08:57

Tight domestic naphtha supply will gradually ease as Strait of Hormuz shipping recovers and South Korea lifts its naphtha export ban, with slow short-term supply gains and long-term relief from rising imports.

China's naphtha output and merchant production remain tight, yet recovering navigation in the Strait of Hormuz and relaxed overseas export policies have lifted import growth expectations, marking a turning point in the supply squeeze and easing medium-to-long-term domestic shortages. AVU Capacity Utilization Rate of Shandong Independent Refineries, 2024-2026 (Unit: %) Source:

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