Jan-Feb China Bitumen Import Slumped 16.5% Y-O-Y
From January to February 2021, China’s total bitumen import volume was 557.3kt, down 16.5% Y-O-Y. Therein, the import volume in January and February were 350.7kt and 206.6kt respectively.
Source: General Administration of the Customs
In January, China’s bitumen import volume from South Korea was 204.7kt, up 71.87% M-O-M and up 18.47% Y-O-Y, and that from Singapore was 84.9kt, up 7.66% M-O-M and down 3.17% Y-O-Y. China’s bitumen import volume from Malaysia was 53.3kt, up 410.38% M-O-M and up 12.27% Y-O-Y. The import volume from other countries was less than 10kt each.
Source: General Administration of the Customs
In February, China’s bitumen import volume from South Korea was 119.9kt, down 41.42% M-O-M and down 31.27% Y-O-Y, and that from Singapore was 64.8kt, down 23.65% M-O-M and down 34.76% Y-O-Y. The bitumen import volume from Thailand was 10kt, up 148.37% M-O-M and down 52.86% Y-O-Y. The import volume from other countries was less than 10kt each.
From March to April, some refineries in South Korea and Singapore will still be in maintenance, and China’s demand for bitumen is tepid at present. Accordingly, SCI estimates that in March, China’s bitumen import volume is unlikely to rise dramatically and will be around 250kt.
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