Jul 2025 China LPG Import Arrivals See MOM Rise of 36.98%
According to SCI’s shipment data, China’s LPG import arrivals were about 3,281.8kt in July 2025, up 36.98% MOM, and mainly influenced by import costs, operating rates of deep-processing units, tariff policy, etc. Influenced by the tariff policy changes, import arrival delay and changes in import costs, it is estimated that China’s LPG import arrivals may inch down in August 2025.
According to SCI’s shipment data, China’s LPG import arrivals were 3,281.8kt in July 2025, up 885.9kt or 36.98% MOM, and down 275.2kt or 7.74% YOY.
The procurement enthusiasm for July cargos improved notably, and the international LPG prices moved downward in July, dramatically dragging down the LPG import costs. Moreover, the demand from the deep-processing industry strengthened. Therefore, the procurement enthusiasm of China’s traders improved, lifting China’s LPG import arrivals.
According to SCI’s data, the operating rates of most deep-processing units moved upward. Operating rates of butane dehydrogenation and PDH units in July 2025 increased by 12.68% and 0.94% MOM respectively. Backed by the deep-processing demand, China’s LPG import arrivals moved upward.
In July 2025, both PDH unit profits and LPG import arbitrage improved. Therein, PDH plants experienced a monthly negative profit of RMB 230/mt, and the monthly averaged import arbitrage reached RMB 132/mt, up RMB 461/mt and RMB 160/mt MOM respectively. China’s LPG import arbitrage improved, facilitating the international trading atmosphere. Backed by the improvement in procurement enthusiasm, China’s LPG import arrivals went up.
The July CP was much lower than the market expectations, so China’s LPG import costs dropped by over RMB 300/mt, alleviating the cost pressure on traders. With rising LPG import arrivals, China’s LPG port inventory increased.
It is estimated that China’s LPG import arrivals in August 2025 will probably go down MOM. Market participants may adopt cautious attitudes to procurement for August cargos. Moreover, the overall LPG import cost may remain low due to the lower-than-expected August CP. Besides, the international LPG supply may be ample. Overall, it is estimated that China’s LPG import arrivals may see minor declined in August 2025.
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