Nov Methanol Import Volume Expected to Rise
According to SCI, China’s methanol import volume was estimated at 940kt in October, down 44.2kt or 4.49% M-O-M. For one thing, the imported resources from the Middle East and Southeast Asia had no increases. For another, the low operating rate and sales of feedstock at MTO plants were also important factors.
In terms of import origin, more resources from New Zealand, Malaysia and certain country in South America flowed into China. Thereinto, the import volume from certain country in South America was estimated at 59kt, up 239% M-O-M. However, the resources from Qatar and certain country in Europe decreased. In addition, the import volume from the Middle East, Trinidad had no large changes. It is predicted that the import volume from certain country in the Middle East may rally to 600-700kt/month in later period.
In terms of arrival region, the volume of imported methanol arriving in East China was predicted to advance in October. Thereinto, Lianyungang, Zhapu and Nanjing saw declines in the volume of import arrival. In Jiangsu, two MTO units with the total capacity of 1,400kt/a ran at lower loads, and a 690kt/a MTO unit in Zhejiang was shut down for maintenance. But the volume of imported methanol arriving in Ningbo was estimated at 215kt, up 67.61% M-O-M. In later period, there is still MTO unit scheduled to take maintenance.
In addition, it is projected that about 173kt of imported cargoes have been changed unloading ports. Market players operated flexibly, and some downstream plants sold feedstock to the public storage areas to optimize feedstock cost.
On the whole, the constant closure of port, frequent changes of unloading port and slow unloading of imported cargoes are still influencing the arrival of imports. However, the import volume is predicted to increase 1,000-1,020kt in November, given the soft demand in the overseas market, the intensive shipment of cargoes from certain country in the Middle East and the notable increase in non-Iranian resources.
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