China's MEG imports decrease in Jan-Feb, 2024

According to China Customs, China imported 507kt of MEG in January and 417kt in February 2024, representing a decline compared to previous months. 

The decline was attributed to shipping interruptions related to the Red Sea and Panama Canal issues since Q4, 2023. These disruptions hindered the timely delivery of MEG shipments, leading to a decrease in import volumes.

Meanwhile, overall supply decreased since end 2023 due to units shutdowns outside China, especially in Saudi Arabia.