China slashes U.S. LPG imports amid trade war

[DonViejo]

Source: Reuters



OCTOBER 9, 2018 / 3:51 AM / UPDATED 6 HOURS AGO

Seng Li Peng

3 MIN READ

SINGAPORE (Reuters) - China has choked back on imports of liquefied petroleum gas (LPG) from the United States, traders and analysts said, turning to the Middle East for extra supplies amid the two countries’ trade dispute.

China bought nearly 3.6 million tonnes of U.S. LPG in 2017, making the United States the country’s second-largest supplier of the fuel used in petrochemicals, as well as for cooking, transport and heating.

However, U.S. imports have come off dramatically over the course of 2018, before stalling completely in late August when China imposed an additional 25 percent tariff on over 300 U.S. goods, including LPG, in retaliation for U.S. tariffs.

Consultancy IHS Markit estimates U.S. imports fell to barely 1 million tonnes during the first eight months of 2018, down from about 2.1 million tonnes for the same period last year, said He Yanyu, Executive Director for Natural Gas Liquids.

Read more: https://www.reuters.com/article/us-trade-china-lpg/china-slashes-u-s-lpg-imports-amid-trade-war-idUSKCN1MJ0MY

[OhNo-Really]

1. So much winning. I'm researching survival recipes in case of Hyperinflation.

I suspect this is a right wing goal. Hey, it worked for other fascists.

[NewJeffCT]

2. I'm sure Trump can sell the excess LNG

to his buddies in The Philippines... that will make up for it I'm sure.

[Lonestarblue]

3. Another result from trade war that will hurt consumers.

Millions of people rely on propane to heat their homes because it is often cheaper than heating or electricity. Costs for propane have already increased to help make up for lower sales. This is the type of news that we rarely see on the nightly news and never on Fox. It’s no wonder people continue voting against their best interests. Most of them don’t have the time to search this stuff out. And even though I’m retired and presumably have more time (!), I would not know about things like this without the wonderful posters at DU. We need some serious thinking about how to get real news to people who need it, along with some analysis of how individual policies are affecting people.

[iluvtennis]

4. Exactly. But the Trumpians support him even when it hurts them. Let that sink in. nt

[NeoGreen]

5. US domestic LPG prices as per EIA...

...


https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPLLPA_PRS_NUS_DPG&f=W

[IthinkThereforeIAM]

6. Isn't Russia awash in natural gas, too...

... I wonder if an LPG/natural gas deal was what China and Putin have been working on.