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Bloomberg: China's plastic manufacturers may lose Iranian methanol

2025.05.06, 15:12
Bloomberg: China's plastic manufacturers may lose Iranian methanol

Iranian methanol exports to China could face US scrutiny after Washington threatened secondary sanctions on Iranian oil and petrochemical buyers while nuclear talks are ongoing, Bloomberg reported on Tuesday.

Gunaz.tv

Iran accounted for about 40% of China's methanol imports in 2024, or about 5.2 million tons, according to data from shipping analytics company Kpler.

ICIS, a global market intelligence firm, states that methanol, which is used to make plastics, is an essential feedstock for China's methanol-to-olefin (MTO) plants, which are significant consumers of Iranian cargoes.

According to Ann Sun, senior analyst at ICIS, "Iranian methanol is almost the only efficient way for coastal MTO units to get enough supply."

Last week, US President Donald Trump threatened to impose immediate sanctions on nations or businesses that purchase Iranian oil or petrochemicals. Chinese refineries that are allegedly involved in the trade of Iranian energy have already been targeted by the United States.

Additional sanctions could halt the flow of Iranian methanol, even though some of it gets to China through third nations like the United Arab Emirates or Oman.

Trump's most recent action comes as he continues to exert pressure on Iran in the context of ongoing indirect nuclear negotiations between the US and Iran. They are currently waiting for the fourth round in Oman after passing the third.

Iran claims that one of the main goals of the nuclear negotiations is to lift sanctions.

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