OIL & GAS: Gasoline fever lures bumper exports of niche chemical from China - Bloomberg
(June 22): China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the
(June 22): China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the octane rating of gasoline.
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Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. The state broadcaster said separately that Ma’s deputy has been relieved of duty for"improper” law enforcement, citing police officials in Hebei. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the octane rating of gasoline. These cookies will be stored in your browser only with your consent. Fuel markets have tightened as the peak summer demand period kicks off in the northern hemisphere, with supply in part crimped by upended trade flows following Russia’s invasion of Ukraine. A video clip showing the violent assault on the women who had brushed off an advance by a man at a barbecue restaurant early on June 10 went viral in China, and local media reports later said two of the females were sent to an intensive-care unit at a hospital. The availability of components that are blended with gasoline have also been squeezed because of a lack of refining capacity across many regions. It said marine engineers had been hired to inspect the floating restaurant and install hoardings on the vessel before the trip, and that “all relevant approvals” had been obtained.
The US still makes and ships MTBE, but phased out its domestic use in the 2000s due to water contamination concerns. In a sign of how the attack was still resonating with the Chinese public on Tuesday, social media users were pointing out that local police initially said they responded to the attack within five minutes but Hebei authorities later said it took them 28 minutes. Necessary Always Enabled Necessary cookies are absolutely essential for the website to function properly. Malaysia received the most flows from China last month, followed by Singapore and Japan, according to OilChem. Unlike finished products such as gasoline and diesel, Chinese producers are not constrained by export quotas for MTBE. The Chinese government would be especially keen to avoid any flareup of #MeToo voices now given its preparations for a major party congress later this year that’s expected to hand Xi a third term in charge. Trade data for chemical products is occasionally adjusted by the customs agency. Non-necessary Non-necessary Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. China’s MTBE exports to Europe and the Americas are estimated to reach about 50,000 tons over May and June, according to global commodity intelligence provider ICIS.” Women’s rights issues threatened to overshadow the Beijing Winter Olympics in February. The restaurant set off shortly before noon last Tuesday from the southern Hong Kong Island typhoon shelter where it had sat for nearly half a century.
The last shipments of scale from China outside of Asia was about 11,600 tons sent to Chile in 2019, said ICIS analyst Huang Lifang. Volumes flowing to Singapore could also be redirected to the west, according to ICIS. Weeks later, authorities in the eastern province of Jiangsu were accused of downplaying the case of a mother of eight filmed chained by the neck in a hut. Weak domestic demand in China due to virus lockdowns and the lure of better prices overseas prompted some producers to ship the product for the first time last month. PetroChina Dalian exported 3,500 tons, while Sinochem Quanzhou shipped 1,800 tons to Singapore, according to separate statements. The fact that the attackers were taken into custody only after security footage of the incident had gone viral raised questions on social media over whether police were protecting gangsters. The free-on-board price for MTBE in Rotterdam-Amsterdam was about US$530 a ton higher than that in China as of the end of May, according to ICIS. Some online commentators described pictures of the floating palace sailing across a charcoal grey ocean towards the horizon as a metaphor for Hong Kong’s future.
Chinese exporters could make a windfall of 2,000 yuan (US$299) a ton in May and June, OilChem estimated. Police in Tangshan responded with that they called a"blitz storm” to collect clues on gang-related crime, with photos posted online later showing locals standing in long lines to file police reports. A rebound in Chinese fuel demand as the nation returns from virus restrictions is likely to lead to reduced MTBE flows, according to traders and executives at Chinese refiners, who asked not to be identified because the information is private. OilChem estimated July exports will fall to 50,000-to-60,000 tons. A reporter from a TV station in the southwestern province of Guizhou said local police prevented him from filming outside the barbecue restaurant last week. Subscribe to Mid-day email alert We deliver news to your inbox daily .