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Insight | Time:Dec 29 2017 2:20PM
China's Nov MEG import up nearby 23 pct from Oct
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According to China Customs, China imported 762kt of MEG in November 2017, up 141kt or 22.7% month on month and 46.7kt or 6.53% year on year. Import price was at $909.6/mt in average, down $12.58/mt from October's level. In the first 11 months of 2017, MEG imports totaled 7.98 million mt, up 1.16 million or 17.04% from the same period last year.

MEG imports in Sep-Nov by origin
Origin Sep, KT Oct, KT MoM, KT
Saudi Arabia 295.5 373.4 77.9
Taiwan 83 123.9 40.9
Canada 51.4 77.4 26
Singapore 65.6 46 -19.6
United Arab Emirates 39.1 53.2 14.1
South Korea 24.3 27.6 3.3
Japan 22.5 25.7 3.2
Iran 13 7 -6
Kuwait 9.8 17.9 8.1
Other 17.7 9.5 -8.2

Nov import increased apparently from Oct, as some delayed cargoes arrived in Nov. In addition, the unit turnaround also affected import volumes.

Imports from Saudi Arabia increased in Nov. Declaration increased in Nov as delayed cargoes arrived in Nov. Import from Saudi Arabia is expected to decrease in Dec as contract supply was reduced due to the turnaround of Sharq4. Imports from Taiwan, China recovered in Nov with Nan Ya's unit restarting. Imports from Kuwait increased in Nov, but the volume was still low as imports of Iranian cargoes under the title of Kuwait's companies decreased.
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