China methanol imports may increase in August on restocking activity
05 August 2011 05:23 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s methanol imports may increase in August if methanol prices continue to rise, market players said on Friday.
The number of methanol imports into China is expected to rise as traders based in China are planning to restock their inventories because they are expecting prices to increase in the near term, the players said.
However, the increase is not attributed to actual demand requirements, the players added.
The demand for methanol imports into China has increased because of a healthier economy this year, the players said.
China’s methanol prices for July were at $345-383/tonne (€245-272/tonne) CFR (cost & freight) China, while the prices for June were at $343-353/tonne CFR China.
China’s methanol imports in May and June were stable month on month because of stable downstream demand, with the country importing around the same volume during both months, the players said.
Methanol imports were at 595,409 tonnes in June, which is a 5% increase month on month, based on official statistics from China Customs.
Market participants said this increase is negligible and demand is considered to be relatively stable.
However, this figure is a 33% increase year on year, the participants added.
Demand for methanol imports in July was stable, traders and buyers said.
The statistics for methanol imports in July will be released at the end of August.
($1 = €0.71)
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