A Glance of China Oil Market 20260817
Weekly News
China LPG port inventories surge on concentrated arrivals
Successful US-Iran talks in June sharply lowered import costs, prompting importers to lock in cargoes and triggering a wave of concentrated arrivals from late July to early August. Weekly LPG arrivals averaged 876,900 tonnes, more than double the 438,100 tonnes seen from May to early July, with two individual weeks exceeding 1 million tonnes. Port inventories climbed rapidly as a result, and by August 10, they reached 2,882,700 tonnes, up 970,000 tonnes or 50.77% from July 9, with the inventory ratio rising to 42.66%.
Bitumen supply and demand both to rise in H2 2026
China's bitumen output in H2 2026 is estimated at 10.66 million tonnes, up 15.90% compared with H1 2026, while consumption is forecast at 12.15 million tonnes, up 22.20%. Supply recovery will be limited in Q3 amid low inventories and maintenance wrap-ups, before accelerating in Q4 with rising inventory pressure. Demand will see seasonal improvement but limited incremental growth, largely on essential needs.
China natural gas supply and demand to up 3.18% and 1.54% YoY in 2026 heating season
According to OilChem, the total natural gas consumption for the 2026-2027 heating season might be approximately 250.04 bcm in China, up 1.54% year-on-year. Total supply is projected at 280.23 bcm, up 3.18% year-on-year, implying a supply-demand surplus of about 30.20 bcm. Domestic production, storage, imported pipeline gas (PNG), and imported LNG jointly contribute to the supply increment, with the overall market set for ample supply and moderate demand.
Plate prices: Zhengzhou
Aug 17, 2026 17:12
Square billet EXW prices: Tangshan major mills
Aug 17, 2026 17:10
Construction steel procurement prices: Guangzhou
Aug 17, 2026 17:08
Construction steel prices: Guangzhou
Aug 17, 2026 17:08
Construction steel procurement prices: Nanning
Aug 17, 2026 17:02
