Methanol: A brief analysis of China’s imports in 2019

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Methanol: A Brief Analysis of China’s Imports in 2019 Author/Source: Finance World Date: 2020-03-12 Clicks: 61 According to data from Zhongyu Information, China’s total methanol imports for the whole of 2019 amounted to 10.8957 million tons, representing a 46.67% increase compared to the previous year. This figure accounted for 146.67% of China’s total methanol imports from the previous year, with an average monthly import volume of 908,000 tons – the highest average monthly import level recorded since statistics on China’s methanol imports began. During maintenance of facilities in countries such as Iran, Saudi Arabia, and Malaysia, there was a reversal between port prices and international market prices; as a result, import volumes were at their lowest level for the year starting in April, though they remained above the monthly average over the past five years. As the year neared its end, with the expiration of this year’s direct port supply contracts, some downstream companies preparing for inventory needs, and the existence of significant arbitrage opportunities in imports, import volumes in December alone reached nearly 1.2 million tons. Among them, the volume imported into our country from the Middle East region, led by Iran, Saudi Arabia, and Oman, amounted to 6.3005 million tons throughout the year, accounting for 71.8% of the total imports, an increase of 38.56% on a year-on-year basis. Next is the Americas, which accounted for a total of 1.8424 million tons of goods supplied to our country throughout the year, representing 20.98% of the total. In 2018, the amount was only 544,000 tons; this year, Chile made its debut on the list of countries from which goods are imported. As new methanol plants come online in North America, their higher-quality and cheaper methanol products are gradually gaining favor in the market. This year, it once again surpassed New Zealand with ease, becoming China’s second-largest source of imports. In New Zealand, the operational stability of methanol plants in that region was poor this year; as a result, the volume of methanol supplied to our country increased slightly, reaching 1.7155 million tons for the whole year, an increase of 12.49% compared to the previous year.