According to data released by the National Bureau of Statistics on February 1, 2009, the apparent consumption of lubricating oil in China reached 7.792 million tons in 2008. Although the international financial crisis has a greater impact, the overall trend is still growing, compared to the same period in 2007, year-on-year. Increased by 4.8%. From January to December in 2008, the total amount of lubricants produced reached 6.408 million tons, which represents a year-on-year increase of 2.8% compared to the same period of 2007, with an import volume of 1.636 million tons, a year-on-year increase of 18.2%, and an export volume of 25.2 million tons, an increase of 37.9% year-on-year. .
According to data from the National Bureau of Statistics, the apparent consumption in December 2008 was 548,000 tons, which was a significant increase of 28.9% from the previous month's 425,000 tons. This is mainly due to:
On the one hand, according to the “Notice of the State Council on Implementing the Reform of Refined Oil Prices and Taxes and Charges,†since January 1, 2009, the excise tax on lubricants has been raised to RMB 1 per litre. This part of the excise tax will be levied on production and import. After the increase of taxes, lubricants will increase consumption tax by 1053.936 yuan (including VAT) per ton compared to the previous period. Therefore, after learning of this news, many refineries have shifted some of their production plans for January 2009 to December. Many importers also increased their import plans in December to avoid tax. Therefore, the apparent consumption was affected by the large increase in production and imports, followed by a sharp rise.
On the other hand, in December 2008, some companies pursued profit at the end of the year and had a small amount of false reports on the apparent consumption of lubricants, making the apparent consumption of lubricants soared by 28.94% in December.
Table China's apparent consumption of lubricants from January to December 2008
period | Yield | Import volume | Export amount | Apparent consumption | Yield/apparent | Import/apparent |
Consumption(%) | Consumption(%) | |||||
January-December 2008 | 640.8 | 163.6 | 25.2 | 779.2 | 82.2 | twenty one |
January-December 2007 | 623.4 | 138.3 | 18.3 | 743.4 | 83.8 | 18.6 |
Year-on-year, +/- % | 2.8 | 18.2 | 37.9 | 4.8 | -1.6 | 2.4 |
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