The feedstock imports for China’s independent refineries fell by 19.6% on the month to a four-month low of 13.17 million mt in February, latest data compiled by S&P Global Commodity Insights showed on March 9. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Feedstock imports included crude, bitumen blend and fuel oil. Pure crude imports, which utilize crude import quotas, fell by 26.1% from January to a six-month low of 11.3 million mt in February, the data showed. The lower imports in February, was largely in line with market participants’ expectation. The independent refineries — mostly Shandong-based — cut throughputs amid the Lunar New Year and the Winter Olympics in Beijing, all of which fell in February. The combined feedstock imports by Shandong-based independent refineries, as a result, fell by 23.3% on month to 8.29 million mt in February, a 23-month low. As evidence, part […]