From January to June 2022, my country imported a total of 4.0213 million tons of ethylene glycol, a decrease of 316,200 tons compared with the same period last year. The import volume in January was the highest, reaching 831,300 tons, and the import volume in May was the lowest, at 551,700 tons. At the beginning of this year, international crude oil soared to a multi-year high, and the oil-to-ethylene glycol industry suffered serious profit losses, with the highest loss reaching US$400/ton. As a result, a large number of domestic and foreign equipment stopped production, and import volume declined significantly. At the same time, due to the second quarter Domestic epidemics have repeatedly affected the arrival of cargoes at ports. As the epidemic was brought under control, import volume rebounded in June, but overall, import volume in the first half of this year was relatively small.
Statistics of ethylene glycol imports by country from January to June 2022
In the first half of the year, Saudi Arabia ranked first in imports, accounting for 52.52% of total imports, Canada ranked second with 12.03%, and Taiwan, China ranked third with 10.56%. Starting from March, due to the impact of profit losses, Japan and South Korea’s ethylene glycol plants have been shut down more. In May, Japan’s import volume was zero, and import volume from South Korea also decreased by 76% compared with April.
In terms of exports, the export volume of ethylene glycol from January to June was 19,600 tons, a decrease of 80,400 tons compared with the same period last year. The export volume in January was the highest at 8,543 tons, and the export volume in February was the lowest at 209 tons.
Overall, both import and export volumes in the first half of this year have declined significantly compared with last year. Due to high crude oil prices, it will be difficult to repair profits in the short term. Domestic and foreign devices will still maintain low operating conditions. It is expected that import and export volumes will be difficult to increase in the second half of the year. A sharp rebound.
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