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Insight | Time: Aug 3 2022 1:50PM  Editor:Michael Zhao
Limited impact of escalating tensions across Taiwan Strait on MEG imports
 
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MEG capacity in Taiwan Prov., China is around 2.41 million mt/year. Among that, the capacity of Nan Ya Plastics Corp is 1.8 million mt/year, accounting for 75% of total.

 

Unit
Capacity,kt/yr Status
CMFC #1 80 running
CMFC #2 80 running
CMFC #3 200 running
Nan Ya #1 360 to restart in Nov
Nan Ya-CMFC #2 360 running, to shut in mid-Aug
Nan Ya #3 360 running
Nan Ya #4 720 Restart delayed to end-Sep
OUCC 250 at low rate
Total 2,410 Operating rate around 45%
August 3, 2022, CCFGroup

 

MEG import of Chinese Mainland from Taiwan Prov. dropped sharply since May with due to the operating rate cut of Nan Ya, and the import fell to a record low in June at only 5kt.

 

2022 Saudi Arabia Taiwan Prov. Canada Kuwait Singapore South Korea Total
Jan 387 130 59 42 20 36 831
Feb 350 101 77 11 25 18 719
Mar 337 87 79 19 17 26 698
Apr 309 70 50 23 16 14 575
May 337 32 111 15 11 3 552
Jun 392 5 109 30 11 5 646

Unit: kt, source: China Customs

 

MEG imports of Chinese Mainland from Taiwan Prov. will keep low due to persistence low operating rate. The impact of escalating tensions across Taiwan Strait on MEG imports would be limited.


[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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