China’s March toluene imports fall 57% on higher import prices

25 April 2012 08:59  [Source: ICIS news]

SINGAPORE (ICIS)--China’s toluene imports in March fell by 57% month on month as a result of higher import prices, traders said on Wednesday.

China imported 30,015 tonnes of toluene in March, according to data from China Customs. Of the imports, 54.7% and 26.1% arrived in Nanjing and Huangpu respectively, while 19.1% went to Shanghai and 0.1% to Shenzhen, the data showed.

Imported volumes decreased as import prices were higher than domestic prices in March, with the price gap at CNY200-300/tonne, importers said.

Domestic prices were CNY9,300-9,350/tonne ($1,474-1,482/tonne) ex-tank Zhangjiagang on 2 March, according to Chemease, an ICIS service in China.

Import prices hit a high for the year so far at $1,250-1,260/tonne (€950-958/tonne) CFR (cost & freight) China on the same day, according to Chemease, which works out to CNY9,498-9,573/tonne after factoring in taxes and miscellaneous fees of about CNY100/tonne.

($1 = €0.76)
($1 = CNY6.31)

By: Ariel Chen

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