China slashes U.S. LPG imports amid trade war [View all]

[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