China Toluene Import Volume Kept Decreasing in Recent Years

China Toluene Import Volume Kept Decreasing in Recent Years

China’s toluene import volume gradually declined year by year overall from 2014 to2018, which was caused by stable rises in China domestic supply volume.

In 2018, the toluene import volume is predicted to be roughly 320kt, down 37.13% on a Y-O-Ybasis. Thereinto, the import volume in H2, 2018 is predicted to shrink sharply due to the depreciation of RMB and the China-U.S. trade war. The monthly average import volume hovered at 30kt, a relatively low level. June saw the highest import volume of 50kt, amid bullish market anticipations, as the overall supply-demand pattern improved and petrochemical companies conducted destockingin Q2, 2018.

In 2019, thetoluene import volume will likely continue to contract, due to expected RMB appreciation and gradually rising output in China.

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