Japan’s naphtha imports for ethylene remain weak
Japan's naphtha imports for ethylene production in November fell against a year earlier for the third consecutive month, reflecting lower ethylene output and the rising use of butane as an alternative feedstock.
Japan imported 1.23mn t of naphtha as a feedstock for ethylene in November, down by 0.9pc from a year earlier. But November imports were higher by 29.2pc compared with 950,667t in October, according to data from the ministry of economy, trade and industry (Meti).
Ethylene production in November fell by 1.4pc from a year earlier to 552,000t, marking the first year-on-year decline since February this year. All the country's ethylene crackers were operational last month and in November last year.
Japanese ethylene producers have been boosting their use of butane, taking advantage of the product's price competitiveness against naphtha.
Japan's butane sales to the petrochemical sector in October rose by 97.1pc from a year earlier to 90,006t, posting a year-on-year increase for the seventh month in row, Japan LP gas association data show. Sales during January-October reached 982,634t, up by 33.7pc compared with the same period of 2018.
Japan's import costs for naphtha for ethylene production averaged $512/t for November, down by 26.8pc from a year earlier but up by 4.3pc from October.
Meti's survey asks Japanese ethylene producers to submit details of their purchases, which differs from customs data released by the finance ministry. November customs data, which include naphtha as feedstock for non-ethylene use, will be released on 26 December.
By Motoko Hasegawa
source: Argus Media
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