China imports of most petrochemicals grow in August

28 September 2011 09:06  [Source: ICIS news]

SHANGHAI (ICIS)--China continued to import strong volumes of various petrochemical products in August, with those of methyl methacrylate (MMA), butyl acrylate (BA), bisphenol-A (BPA) and polysilicon showing significant increases, official data showed on Wednesday.

The country, which is a major import market for petrochemicals in Asia, more than tripled its MMA imports at 15,127 tonnes compared to the same period last year. Its BA imports more than doubled 2,986 tonnes and its BPA imports nearly had a twofold increase at 60,595 tonnes, according to China Customs data.

Its polysilicon imports in August also grew 74% year on year to 6,474 tonnes, the data showed.

The strong growth in polysilicon imports can be attributed to the fast-paced development of the photovoltaic industry in the country, on the back of favourable government policy, said an industry source.

Polysilicon is the feedstock in making solar wafers, cells, modules and panels.

China’s National Development and Reform Commission (NDRC) had set in August a new benchmark on grid prices for the photovoltaic sector. Developers of solar power projects, which received approval before 1 July and are due to be completed by end-2011, can now sell to grid operators at yuan (CNY) 1.15/kilowatt hour (kWh) (18 cents/kWh)..

Meanwhile, China’s olefins imports continued to grow at a double-digit pace, with ethylene volumes up 52% at 102,214 tonnes, propylene rising 40% to 145,650 tonnes and butadiene growing 25% at 11,284 tonnes, official data showed.

ICIS tracks China’s imports of 35 petrochemical products, 20 of which showed increased volumes year on year, while 15 products registered declines. The country’s naphtha imports also fell 24% year on year in August to 177,584 tonnes.

Among the imported petrochemical products in August, monoethylene glycol (MEG) imports had the biggest volume at 670,446 tonnes, up 20% year on year.

China’s MEG imports were 26% higher compared to July volumes, with the full resumption of Taiwanese supply from Nan Ya Plastics, said an industry source.

The Taiwanese firm’s four MEG plants in Mailiao were all running normally in August.

Meanwhile, China’s phenol imports grew 54% year on year to 63,845 tonnes in August, taking in more cargoes from Europe and the US, industry sources said.

2011-Aug	Import			Export
Product	Import (tonnes)	YoY growth (%)	MoM growth (%)	Export (tonnes)	YoY growth (%)	MoM growth (%)
Naphtha	177,584	-24%	3%	41,163	-49%	38%
Ethylene	102,214	52%	18%	3	-100%	0%
Propylene	145,650	40%	-8%	5	-	-29%
Butadiene	11,284	25%	164%	2,957	-84%	-67%
HDPE	320,517	10%	27%	6,904	120%	-58%
LDPE	169,520	113%	43%	6,306	-39%	-17%
LLDPE	274,334	21%	59%	4,166	407%	-54%
PP	351,928	11%	6%	15,812	96%	-3%
PVC	98,933	-26%	20%	34,127	43%	-17%
EPS	6,260	1%	0%	21,654	-28%	-33%
Benzene	9,183	-56%	2%	14,555	65%	146%
Toluene	49,231	-21%	-15%	31	-99%	-84%
MX	13	44%	-38%	78	95%	169%
PX	460,400	47%	6%	14,748	195%	-52%
SM	347,359	6%	29%	40	19900%	-72%
PTA	463,360	-1%	6%	0	-	-100%
MEG	670,446	20%	26%	309	-11%	12%
CAN	37,570	-4%	32%	0	-	-
Caprolactam	51,200	13%	14%	1,321	5404%	-
Phenol	63,845	54%	4%	73	-93%	-98%
Methanol	446,220	-11%	-11%	14,075	13054%	-21%
Acetone	53,592	-7%	14%	3	-85%	-95%
BPA	60,595	98%	71%	500	178%	4445%
IPA	7,929	-20%	57%	70	-1%	-66%
MEK	3,357	57%	675%	7,200	-11%	-33%
Base oil	136,131	-2%	-2%	13,766	135%	-16%
MMA	15,127	222%	58%	4,634	-11%	-29%
PMMA	16,212	-11%	-11%	1,256	6%	32%
GAA	2,608	-44%	28%	3,438	-29%	-18%
BA	2,986	113%	111%	2,024	-67%	-59%
2EHA	2,007	5%	-15%	255	-59%	-79%
2-EH	23,259	-53%	-1%	110	-45%	-11%
NBA	30,617	-28%	-29%	57	-65%	159%
PA	13,357	-6%	60%	141	271%	-74%
DOP	7,836	-1%	64%	790	-4%	-56%
Polysilicon	6,474	74%	25%	172	-9%	50%

 Source: China Customs

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections

By: Dolly Wu
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