Physical reality check: Is China ready for U-turn after weakness over last months?

Sep 15, 2021

We performed a reality check on China’s crude and refined product trade flows, coupled with domestic demand signals to obtain an early indication of emerging trends for the coming weeks and the remainder of the year.

A key question this report explores is whether China is finally set for a U-turn after a couple of months of dismal flow data?

At the same time, we take into consideration two key developments China is experiencing:

    • Typhoon Chanthu, which is disrupting port operations around Zhoushan
    • A new covid outbreak in Fujian province which could threaten domestic demand if not contained

 

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Sep 15, 2021
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Listing_Summary-Vortexa_July2019

China’s crude trade flows continue falling trend as crude imports from the Middle East & Africa diverge, while crude imports from Americas & North Sea ease. At the same time, clean product imports and fuel oil imports are falling and trending lower as typhoon disruptions further dampen arrivals. Can China turn things around?

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Sep 7, 2021
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Oil & gas prices and diffs remain buoyed across the board. Crude and refined products are kept alive by supply limitations in the form of outages, strategic decisions and structural issues. LNG and LPG meanwhile run from record to record, helped primarily by strong demand for power, petchem and final consumption.

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Aug 31, 2021
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We're seeing clear and strong indications that the demand repercussions have been substantial over recent months, but also some signs of hope with improved activity in India and Japan in August.

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