New plants, US trade worries to drive China’s 2025 naphtha imports to record
By Mohi Naradan and Sam li
According to analysts and traders, the new Delhi/Beijing (Reuters) -China’s NAFTA imports will reach record levels this year and will increase the margins of the cafiner’s margins on the US propanes and etan purchases and support the margins of refinery.
Sources, in recent years, the US propane and ethane feeding in the world’s largest petrochemical manufacturer, which has returned to turn the stocking of the US-China in the US-China War, the US-China trade war after some demand returns to Naphtha.
Rystad Energy and Fge said that the need for diversification of materials and the demand for demand from new plants will continue its imports this year to 16 million to 17 million metric tons (144 million to 153 million barrels) this year. JLC Pegs 2025 Imports about 15 million tons of imports.
Official data showed that China imported approximately 12 million tons in 2024.
“There is a confidence factor that comes into play when it comes to US cargoes, with problems in the imports of etan and propane,” with problems in the imports of ethane and propane, “Rystad Energy. He said.
“On the other hand, Naphtha is independent of these concerns because suppliers are varied.”
Authorized, a total of 4 million tons of ethylene capacity per year will be online in China until the end of 2025 and will help import demand, and this will increase to 6 million TPY in the first half of 2026, he added.
The International Energy Agency (IEA) said in the July report that China’s demand for NAFTA was expected to increase by approximately 6% in 2025 and 8.6% in 2026, and that only 2.3% in 2025 and 1.3% in 2026 have left behind the combined growth.
Following the deductions in the US supply, China issued a second party of approximately 24 million tons in June in June and increased last year’s allocations to almost double.
Between January and May, China imported approximately 6 million tons of Naphtha, 22.81% per year and the highest level since 2015, government data with the largest suppliers in Russia, United Arab Emirates and South Korea.
This was compared to 12.3 million tons with an annual increase in propane imports in the first five months, while the imports of etan remained constant at 2.3 million tons in the same period.
Energy aspects, in the July 4 note, said China’s imports of liquefied oil gas (LPG) containing propanes (LPG) would be lower in the midst of the cautious purchase of US cargoes in the third quarter.
Analysts are expected to support the margins of Asian refiners. NAFTA margins increased by 4% this month compared to Brent crude oil in the hope of demand for healthy raw materials from China.
