Jan-Feb China PBR Imports and Exports Decreased
Jan-Feb China PBR Import Volume Decreased
According to GACC, in January 2022, China’s PBR import volume was 17kt, down 17.31% M-O-M and up 7.08% Y-O-Y. In February 2022, China’s PBR import volume was 10.5kt, down 38.15% M-O-M and down 12.15% Y-O-Y. From January to February 2022, China’s PBR import volume totaled 27.6kt, down 1.18% Y-O-Y.
Decreasing Import Volume of South Korea-Origin PBR
In January 2022, the top three import origins were South Korea, the U.A.E and Japan. In February 2022, the top three import origins were South Korea, Japan and Thailand. The import from the U.A.E greatly changed. China’s PBR import volume from the U.A.E was 3kt in January 2022, up 164.44% Y-O-Y, and that in February 2022 was 0.4kt, up 60% Y-O-Y. The prices of some Middle East-origin PBR resources were relatively low. (Remarks: China’s demand dropped to the lowest in February as many downstream plants suspended production for the holiday. Thus, the overall import volume was low.)
Feb Notable Decrease in PBR Export Volume
In January 2022, China’s PBR export volume was 7.1kt, up 1.42% M-O-M and down 29.74% Y-O-Y. In February 2022, China’s PBR export volume was 4.8kt, down 32.37% M-O-M and down 42.61% Y-O-Y. From January to February 2022, China’s PBR export volume totaled 11.9kt, down 35.57% Y-O-Y.
According to GACC, from January to February 2022, China’s PBR major export destinations remained to be Thailand and Vietnam, and China’s PBR export volume to the above two countries took up more than 80% of the total.
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