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
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
BHP to spend up to $14 billion on Chilean copper expansion
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
Trump chooses oil fracking boss as energy secretary
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project