China’s coal-to-olefins gains a strategic role as feedstock risks rise

China’s coal-to-olefins net cash margins compared with methanol-to-olefins and naphtha cracking

China’s coal-to-olefins production has gained a competitive advantage as disruptions to Gulf energy supplies raise the cost of imported petrochemical feedstocks. The analysis estimates that average cash margins for integrated coal-based plants rose from $31 to $345 per tonne of olefins during March–August 2026, while naphtha-based margins turned negative. Domestic coal offers a hedge against imported oil and gas feedstock […]

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