China naphtha imports fall 4.74% MoM in May on geopolitical disruptions

China's naphtha imports fell 4.74% month-on-month to 596,600 tonnes in May 2026, marking the third consecutive monthly decline. Middle East supplies remained largely cut off, while strong US summer gasoline demand diverted arbitrage cargoes away from Asia. June imports are expected to drop further to 500,000 tonnes, with a recovery likely in July as the Strait reopens.

The General Administration of Customs of the People's Republic of China (GACC) data show China's naphtha imports reached 596,600 tonnes in May 2026, down 29,700 tonnes or 4.74% from April, the third straight monthly decline. Cumulative imports for January-May totaled 5,939,500 tonnes, edging down 0.72% year-on-year. While the Strait