China Exports Record Diesel Volumes
China exported record volumes of diesel in March and boosted sales of gasoline and kerosene as refiners continued to turn to foreign markets to offload their excess product, while liquefied natural gas imports also jumped, customs data showed on Sunday.
Diesel exports jumped 53% to 1.91 million tons, data from the Chinese customs authority showed, outpacing the previous record of 1.78 million set in December, Reuters reported.
Gasoline exports rose 25% in March compared with the same month a year earlier to 840,000 tons, but were down 21% from February.
Kerosene shipments abroad were 1.25 million tons, up 21.4% year-on-year and up 23% from February.
The high monthly shipments led to big increases in the first quarter and will reinforce concerns that China, one of the world's top energy markets, is contributing to a fuel overhang as refiners churn out more products like gasoline and diesel than the market can absorb.
China became a net exporter of fuel products in late 2016.
LNG imports totaled 1.99 million tons in the month, up 18% year-on-year but down 19.5% from February and the lowest monthly total since October last year.
That may reflect waning demand as temperatures rise, reducing the need for the fuel for heating.
source: Financial Tribune
Top News
Six last month
Two last year
Bolivia ditches new gold rule within days to curb ‘speculation’
Iron ore price drops toward $100 as China’s latest fix disappoints
China, Indonesia seal $10 billion in deals focused on green energy and tech
Copper price, stocks are being hammered as Trump tariff, China worries mount
Codelco copper production rises in September, Escondida dips
Suitors circle American Eagle Gold as South32 takes 19.9% stake
US judge narrows investor lawsuit against Rio Tinto over Mongolian mine
Top gold ETF sees largest weekly outflow since 2022 on Trump win
Japan, Peru to agree on cooperation in mineral mining technology
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Lithium in nascent rebound, but long-term outlook is bleak
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus