A Glance of China Oil Market 20260720
Weekly News
Geopolitical disruptions hit shipping, China LPG port inventories sink to historic lows
In H1 2026, the Strait of Hormuz closure cut LPG arrivals to 12.16 million tonnes in China, down 30.10% compared with H2 2025 and 27.73% YoY. Port inventories averaged 2.10 million tonnes, down 30.52% from H2 2025 and 27.32% YoY, remaining at historical lows. PDH operating rates plunged to 46.85% by the end of May, down 28.68 percentage points from the peak of H1 2026. LPG arrivals are expected to recover in H2 2026, but inventory builds may fall short of prior-year levels.
China MTBE unit operating rate plunges to 5-year low
China's Methyl tert-butyl ether (MTBE) plant shutdowns began to emerge gradually from May, with the pace accelerating noticeably from late June. The number of idled units increased even more substantially in July, making the operating rate retreat to the lowest levels in five years and signaling a clear supply-side contraction. Domestic MTBE operating rate fell to 42.39% nationally and 34.76% in Shandong as of July 16.
China gasoline & diesel inventories soar in H1 2026
H1 2026 saw broad year-on-year (YoY) gains in China's refined oil inventories. Restricted exports, sluggish demand and new energy substitution lifted stocks across local refineries, distributors and depots. Local refinery gasoline and diesel stocks rose 35%-47% YoY by late June. Gasoline stock swings at independent refineries widened in H1 2026. Its peak shifted from late Feb to late Apr, with a 330,000-tonne YoY peak difference. End-June gasoline stocks stood at 1.07 million tonnes, a 280,000-tonne YoY rise.
Iron ore concentrates procurement prices: China's major mills
Jul 21, 2026 19:37
Mysteel Iron Ore Index
Jul 21, 2026 19:35
Imported iron ore prices: China's major cities
Jul 21, 2026 18:45
Iron ore portside prices: Huanghua port
Jul 21, 2026 18:40
Iron ore portside prices: Jingtang port
Jul 21, 2026 18:34
