Korea: S. Korea's share in China's bitumen import mix shrinks to 67% in Jan-Jun 2010

Chemical News: Korea: S. Korea's share in China's bitumen import mix shrinks to 67% in Jan-Jun 2010

https://www.chemnet.com Jul 30,2010
South Korea saw its share in China's bitumen import mix shrank to 67% in the first half of 2010, the data from General Administration of Customs (GAC) showed. It was the first time for the country to record a lower-than-70% share.
Some of its market shares were snatched by Southeast Asian countries, the GAC data indicated. In South and Southwest China, Guangdong, Guangxi, Yunnan and Sichuan recorded active road construction this year, and they hiked buying from Southeast Asia.

The Kemaman refinery in Malaysia under the fold of Tipoco has become one of the key bitumen suppliers to China as from this April. Thanks to that, China's bitumen imports from Malaysia surged over ten folds year-on-year in January-June.

During the meantime, demand in East China, one of the major target markets of South Korean bitumen, kept slack so far this year. The region was oversupplied with domestic grades, and even had to keep sending surplus to northern China in the second quarter. Thus, it kept slashing imports from South Korea in May-June.

Print | add to Favorites | Close