China's methanol export rebate cut seen boosting prices abroad

摘要

Asian methanol participants expect the export rebate cut announced by the Chinese government to have a firming impact on methanol prices in the rest of Asia,especially in South Korea,Taiwan and India.Currently,the VAT on methanol is 17%--of which 13 percentage points are rebated when the methanol is exported.However,the Chinese government has decreed that it would bring down the rebate to just 5%,effective July 1.