South Korean Methanol Imports Rise 13.5% in July


South Korea imported 148,370t of methanol in July 2010, an increase of 13.5% from the same month in 2009.

The country imported 41,856t of methanol from Iran, a rise of 61.2% compared with the same period last year, according to platts.com.

The rise in Iranian imports in July was due to South Korean banksm who stopped issuing letters of credit for cargoes of Iranian origin bought after 8 July 2010.

Methanol imports in July were also sourced from New Zealand(34,111t), Saudi Arabia (22,398t), Oman (14,622t), Malaysia (12,244t) and Chile (13,577t).