US ethanol exports to Asia weaken in March
A fall in demand because of the Covid-19 pandemic hit US fuel ethanol exports to Asia in March while industrial grade sales rose, according to customs data.
The Philippines' purchases of undenatured ethanol for fuel blending fell to 17.5mn l after climbing to 26.1mn l in February, from an anomalous zero in March 2019.
India's total ethanol imports from the US tumbled to 74.3mn l in March from 180mn l in February and 82.7mn l a year earlier.
Northeast Asian buyers sought additional supplies for hand sanitizer manufacturing in March. Undenatured exports to Japan increased to 13mn l from just 18,000 l in February and 1.7mn l a year earlier. South Korea's denatured imports from the US rose to 34.7mn l from 33.3mn l in February and 5.7mn l in March last year. Korea also increased undenatured imports, taking 9mn l compared with 7.3mn l in February and 5.4mn l in March 2019.
China bought just 23,000l of US fuel ethanol and 22,700l of denatured ethanol in total in March, despite the US-China "phase one" trade agreement officially taking effect from 14 February. China has not received significant volumes from the US since imposing a 45pc import tariff in April 2018.
Chinese companies still have no good reason to increase purchases of US fuel ethanol while tariffs are in place and the nationwide E10 blending mandate is on hold, traders said. Trade officials from the two countries earlier today restarted their political commitment to the "phase one" deal, under which China has agreed to significantly raise US commodity imports in 2020-21.
By Lauren Moffitt
source: Argus Media
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years