25 September 2009 08:58 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s methanol imports in August fell 40% from the previous month to 277,800 tonnes, according to the country’s import and export statistics released on Friday.
The import slowdown in August and so far in September was partly due to weakening downstream demand and resumption of domestic production along with rising methanol values, a China-based methanol trader said.
However, total imports of methanol from January to August this year were at a historic high of 4.15m tonnes, more than three times the 1.433m tonnes imported during the whole of 2008.
"With global methanol values falling sharply in 2009, several domestic China producers based on coal had shut down due to poor economics and therefore overall imports this year have been huge," the trader said.
A Japan-based methanol seller said monthly demand for methanol in China was around 1.5m tonnes, with nearly 0.5m tonnes accounted for by imports.For more on methanol visit ICIS chemical intelligence
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