In April, the BDO export volume tripled year-on-year, and Europe’s dependence on imports may weaken

According to customs statistics, unlisted diols in April 2023 The export volume (including BDO) was 25,177 tons, the export value was 42.837 million US dollars, and the export volume increased by 305.0% compared with the same period last year.

According to the classification of trading partners, my country’s unlisted diols (including The top three destination countries for BDO) exports are Vietnam, Belgium and Italy, the latter two of which are located in Europe. Among the top ten exporters of unlisted diols (including BDO) in April, three are located in Europe, namely Belgium (second), Italy (third) and the Netherlands (sixth).

Figure 1 Unlisted diols (including BDO) in China from 2022 to 2023 ) Monthly export statistics (unit: tons)

As the hardest hit area of ​​secondary sanctions, since the escalation of the conflict between Russia and Ukraine, Europe The economy is constantly facing the biggest energy crisis ever and the threat of inflation. However, entering May, energy prices continued to fall, natural gas prices suffered an “ankle cut”, strong supply has accumulated high inventory levels for manufacturers, and the most severe moment of the European energy crisis may have become a thing of the past. If Europe does not encounter a severe winter this year, the current level of supply in Europe will be sufficient to meet local demand, and the dependence on imports of chemical raw materials with high energy consumption, such as BDO, will be correspondingly weakened. However, if China’s demand picks up, Europe’s current energy reserves may be slightly insufficient, driving demand for imports of chemical products such as BDO.

Table 1: Unlisted diols (including BDO) in April 2023 ) top ten export destinations, export volume and month-on-month growth rate

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10

Singapore

407.9

1240.7%