China is the world’s largest LPG importer with imports totalling 20.5 million tonnes in 2019, up 9% than in 2018. The country’s share in the global LPG trade comprises 20%. Earlier forecast projected the country’s LPG imports to reach 24.3 million tonnes in 2020 due to the commencement of three PDH units. However, the outbreak of the coronavirus has halved China’s LPG demand and it will remain weak in the coming months. Hence, we have revised our forecast to 21.2 million tonnes in 2020. The coronavirus sprouted from Wuhan in December 2019 but its grave impact started to show in January 2020. The tally of confirmed cases reached 45,000 by end of January. To control the spread of the virus, the Chinese government had extended the Lunar New Year holidays, shutting down key industries untill mid-February. The government also placed strict restrictions on inland transportation, crippling LPG supply chain in the country as many PDH plants receive LPG via trucks from import terminals.
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