China Diesel Exports Slide as Price Floor Boosts Domestic Profit
- Shipments fell 26% to five-month low; imports more than triple
- Refiners lack incentives to export as margins improve: ICIS
This article is for subscribers only.
China’s diesel exports fell from a three-month high while imports surged as the government’s decision to halt fuel price cuts amid crude’s crash made domestic sales more attractive.
The world’s largest energy consumer shipped overseas 730,000 metric tons of diesel in January, the lowest in five months, data from the General Administration of Customs showed Sunday. While that’s more than tenfold the same period a year ago, exports slid 26 percent from about 980,000 tons during the previous month. Imports more than tripled from December to 150,000 tons, the highest in 10 months.