Minmetals Chemical Products Imports Increased

At the 100th Canton Fair, the China Minmetals Chemicals Importers and Exporters Association revealed that the total import and export volume of China's Minmetals chemical products for the first 8 months of this year was US$299.4 billion, accounting for 27.1% of the total import and export volume of the country, a year-on-year increase of 21. 7%. Among them, exports accounted for 111.6 billion U.S. dollars, accounting for 18.6% of the country's total exports, an increase of 24%; imports accounted for 187.8 billion U.S. dollars, accounting for 37.2% of the country's total imports, an increase of 20.3%.
In terms of exports, January-August exports of refined oil reached 8.2 million tons, a decrease of 21.7%, and the export value was US$4.61 billion, an increase of 1%. The main export market is Singapore (1.32 million tons of exports, export value of 800 million US dollars), Hong Kong (1.2 million tons of exports, exports of 650 million US dollars), Vietnam (exports of 790,000 tons, exports of 470 million USD). Crude oil exports reached 4.15 million tons, a drop of 15%, and the export value was 1.7 billion US dollars, an increase of 15.0%, and the average unit price increased by 36.7%. The main export markets are South Korea (export volume 1.33 million tons, export volume 500 million US dollars), the United States (export volume 650,000 tons, export value 280 million US dollars), Indonesia (export volume 580 thousand tons, export value 270 million yuan USD). The exports of coke and semi-coke were 9.16 million tons, an increase of 1.3%, and the export value was 1.22 billion US dollars, a decrease of 32.9%.
On the import side, from January to August, crude oil imports reached 95.8 million tons and import value reached 44.52 billion US dollars, up 15.3% and 51.5%, respectively, and the average unit price increased by 31.4%. The main import market is Angola (import volume of 16.68 million tons, import volume of 7.84 billion US dollars), Saudi Arabia (import volume of 16.65 million tons, import volume of 7.13 billion US dollars), Iran (import volume of 11.31 million tons, import volume of 52 (300 million US dollars). The import of refined oil was 25.75 million tons and the import value was 10.95 billion US dollars, an increase of 25.7% and 79.2% respectively. The main import markets are Korea, Singapore, and Russia, with import amounts of 3.27 billion U.S. dollars, 1.62 billion U.S. dollars, and 1.4 billion U.S. dollars, respectively.

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