China’s March ethanol imports soar more than 20,000% on year

In China, Platts reports that ethanol imports in March rose more than 20,000% to 176,468 cu m, compared to just 2,457 cu m in March 2017. As a result, quarterly imports hit a whopping 494,823 cu m thanks to US ethanol that is so cheap, traders are making money importing ethanol despite a 30% import duty. Those imports are expected to dry up, however, after the country lobbed an additional 15% import duty onto ethanol in retaliation for US import duties on steel.