24 July 2013 12:10 [Source: ICIS news]
SINGAPORE (ICIS)--China has exported a total of 270,600 tonnes from January to June this year, all of which were originally imported material, market sources said on Wednesday.
The country is a net importer of methanol, taking in a total of 2.81m tonnes in the first half of the year, official data from China Customs showed.
It re-exported about 10% of the total imported volume as domestic demand is weak, China-based end-users and traders said.
Most methanol re-exports went to Korea, southeast Asia, and the US, they said.
China appears to be becoming a re-distribution centre for methanol in Asia, where prices are much lower compared with other regions in the world, market sources said.
Iran is a major source of methanol imports for China. For January to May, China took in 1.80m tonnes of Iranian methanol, official data showed.
The five-month volume from Iran accounted for 64% of China’s methanol imports in the first half of 2013.
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