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Insight | Time:Feb 1 2018 3:24PM
China's MEG import inches up in Dec 2017
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According to China Customs, China imported 769kt of MEG in December 2017, up 0.7kt or 0.92% month on month and 14.8kt or 1.96% year on year. Import price was at $916.68/mt in average, up $7.08/mt from November's level. For the whole year of 2017, MEG imports totaled 8.75 million mt, up 1.18 million mt or 15.54% from 2016.

Origin Nov, KT Dec, KT MoM, KT
Saudi Arabia 373.4 348 -25.4
Taiwan 123.9 85.3 -38.6
Singapore 46 70.7 24.7
United Arab Emirates 53.2 69.4 16.2
Canada 77.4 68 -9.4
South Korea 27.6 46.1 18.5
Japan 25.7 35.7 10
Kuwait 17.9 16.8 -1.1
India 6.1 16.2 10.1
Other 10.4 12.8 2.4

Import from Saudi Arabia decreased in Dec as contract supply was reduced partially due to turnarounds of Sharq4, Equate2, and Kayan in Nov. In addition, declaration of cargoes from Saudi Arabia decreased amid vessel delays. Imports from Saudi Aribia is expected to recover in Jan 2018.

Import from Singapore increased 24.7kt month on month amid higher prices in China. Indian Reliance was running its new MEG plant stably since Sep, and began to supply Chinese market since Nov. Monthly shipment to China was around 20kt. Dec import from India was 16.2kt, which was within normal range. Import from South Korea recovered in Dec, with the volume up 18.5kt to 46kt.
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