LPG in World Markets: Record Chinese Imports, Even Amid Poor PDH Run Rates

This current feature was extracted from the latest edition of Poten’s LPG in World Markets, a monthly service published on December 7, 2023.

According to the latest trade statistics published by the General Administration of Customs of China, LPG imports by the country stood at 2.6 MMt in October this year, down 18% m-o-m. A decline in imports in October could largely be associated with record level imports in September.

Market sources indicated that spot cargoes delivered into the country in September were bought in August or earlier, when the PDH margin was profitable, which could have led importers to overestimate demand numbers. Furthermore, at least six PDH plants completed maintenance and re-started operations in August, which prompted Chinese importers to buy more propane.

To read the full analysis, please click here.