Jul LPG Import Sees MOM Rise over 25%
According to GACC’s data, China’s LPG import volume was about 3,375kt in July 2025, up 26.25% MOM and down 2.97% YOY. Meanwhile, China’s LPG export volume totaled 92.8kt, up 5.86% MOM. China’s LPG import volume in July 2025 went up MOM, mainly backed by the import costs and relatively strong demand.
Jul 2025 China LPG Import
As seen from the table above, China’s propane import volume was 2,515.7kt in July, up 27.64% MOM and down 10.04% YOY. Moreover, the import volume of butane was 844.5kt in July, up 25.04% MOM and up 28.69% YOY. Meanwhile, China’s import volume of other LPG and olefins was relatively low. Besides, China’s import volume of liquefied ethylene, propylene, butylene and butadiene was 14.8kt, down 45.12% MOM and down 39.23% YOY.
According to SCI, the MOM increase in China’s July LPG imports was driven by changes in tariff, import costs and operating rates of deep-processing units.
It was anticipated that the tariff policy would change in August, so the procurement enthusiasm for July cargos improved notably. Moreover, China’s LPG import arrivals rose dramatically, lifting China’s LPG imports. In terms of the import cost, the July CP was lower than expected, so China’s LPG import costs declined by about RMB 300/mt, alleviating the cost pressure. As for the deep-processing unit operating rate, the demand from the LPG deep-processing industry bottomed out from the end of May. In July, operating rates of most deep-processing units went up, and those of iso-butane dehydrogenation and PDH units rose by 12.68% and 0.94% MOM respectively.
According to China Customs, China imported LPG mainly from the U.A.E., the U.S., Oman, Qatar and Saudi Arabia. Therein, the imported LPG volume from the U.S. and Middle East took up 80.06% of the total, down 1.4 percentage points MOM.
In July, China still mainly imported LPG from the U.S. and the Middle East. Therein, imports from Middle Eastern countries amounted to 2,148.6kt, accounting for 63.66% of the total, down 5.93 percentage points MOM. Although the proportion of imports declined, the overall import volume increased significantly MOM due to rising domestic demand and lower import costs. The Middle East remains the primary source of LPG for China. Imports from the U.S. reached 580.2kt. With the easing of Sino-U.S. trade relations, the competitive advantage of U.S.-origin goods entering the Chinese market improved. In July, the proportion of imports from the U.S. increased from 11.87% to 17.19%, and the import volume also saw significant MOM growth. Imports from Russia, Australia, and Canada remained relatively stable, forming a diversified supply pattern. Overall, although tariff policies eased, allowing U.S.-origin goods to re-enter the Chinese market, the diversification of import sources has already taken shape, reducing unilateral trade risks.
Main provinces and cities that imported most of LPG in July 2025 were Shandong, Guangdong, Shanghai, Zhejiang and Jiangsu. Therein, Shandong imported 799.6kt of LPG, ranking first and taking up 23.69% of the total. Meanwhile, LPG import volume in Guangdong and Shanghai was 465.3kt and 441.4kt, taking up 13.79% and 13.08% of the total respectively.
In July, the LPG import volume in Shandong, Guangdong, Zhejiang, and Jiangsu saw significant increases while the proportion of imports in other regions remained relatively unchanged. This was primarily due to a notable rise in deep-processing demand, which drove substantial import growth in regions such as Shandong, Zhejiang, and Jiangsu where such demand is concentrated. Additionally, as import prices from the Middle East were relatively low in July, Guangdong, being one of the primary receivers for Middle Eastern supplies, also experienced a significant increase in imports.
Jul 2025 China LPG Export
In July, China’s LPG export volume totaled 92.8kt, up 5.1kt or 5.86% MOM and down 21.4kt or 18.77% YOY. China’s LPG export volume was relatively low, as China still needed imported resources to satisfy the domestic demand.
In July 2025, China mainly exported LPG to Philippines, Vietnam, Hong Kong of China, Macao of China and Singapore, and the volume of LPG exported to the above five countries or regions was 89kt or so, taking up 95.90% of China’s LPG export volume.
On August 12, 2025, the Customs Tariff Commission of the State Council announced that the additional 24% tariffs on imports from the U.S. would continue to be suspended for 90 days, while the 10% additional tariff rate would remain in place. The easing of tariff policies has created significant opportunities for U.S.-origin goods to enter the Chinese market, boosting traders’ enthusiasm for procuring U.S.-origin resources. In terms of import costs, the August CP for both propane and butane went down, stimulating purchasing enthusiasm among downstream buyers. Regarding demand, the LPG deep-processing demand remained robust. The average operating rate of PDH units exceeded 70% in July and further rose to over 73% in early August. It is expected to climb even higher in late August, lifting propane demand. Additionally, China’s PDH unit profits are relatively favorable, so the growing demand from the deep-processing industry may become a key factor supporting China’s LPG import growth.
Besides, market participants may adopt bullish attitudes to China’s LPG market in September. Given the reasonable import costs and strong demand, importers’ enthusiasm improves notably. Overall, it is estimated that China’s LPG import volume remain over 3,000kt in August 2025.
All information provided by SCI is for reference only, which shall not be reproduced without permission.
Please click "Read more" for the full article.
