Under the premise of the current international tension, the global chemical trade has been affected to some extent because of the Russian-Ukrainian war, the stagnation of international trade between some countries, as well as the global sanctions against Russia, which also largely restrict Russia’s trade with other countries.
China has a frequent annual trade in bulk commodities with Russia, importing not only a large amount of Russian crude oil, natural gas, coal and other energy products, but also a large amount of fertilizer products and chemical products from Russia. In addition, as an important consumer country, China exports a large amount of chemical products to Russia every year.
As you can see, Russia has become an important international trade partner of China in the international trade market of chemicals.
According to the chemical import market between China and Russia in 2021, crude oil is the most imported product among the chemical and energy products imported into Russia by China in 2021, with a total import of more than 79 million tons in 2021, which is located in the first place of chemical and energy products imported into Russia by China in 2021. As a major oil-exporting country, China has frequent crude oil trade with Russia and has also established long-term cooperative relations. Translated with www.DeepL.com/Translator (free version)
In addition, according to customs data, China imported more than 32 million tons of bituminous coal, more than 10 million tons of coking coal, and more than 8.8 million tons of anthracite coal from Russia in 2021. In terms of total coal imports, the total imports exceeded 50 million tons, accounting for 16% of China’s total imports, making it an important coal importer for China.
In addition, in 2021 China imported more than 4 million tons of LNG and 2.4 million tons of KCl, ranking within the TOP 10 of China’s imports to Russia. As an energy power, China’s annual imports of fossil energy products from Russia have become an important source of fossil energy supply for China.
For chemicals exported from China to Russia in 2021, the first place is PTA products, the total export scale to Russia in 2021 is in 290,000 tons, accounting for the first place of total exports, also accounting for more than 11% of China’s total exports of PTA, which is an important PTA exporter in China. As an important product of bulk chemicals, China’s PTA market size is growing rapidly, and exports have increased significantly year-on-year. Translated with www.DeepL.com/Translator (free version)
Another product, polyester chips, was exported to Russia in 2021 with 220,000 tons. The export of polyester chips to Russia, on the one hand, reflects the vacancy in the supply of the Russian polyester industry, and on the other hand, the export of the Chinese polyester industry has become an important direction and way of its consumption.
In addition, according to customs statistics, China’s exports of Russian aviation kerosene in 2021 were around 140,000 tons, accounting for a relatively small proportion of China’s total exports. However, the large volume of the market for the oil itself leads to the top of the total exported oil to Russia.
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