According to the company’s LinkedIn post, SIBUR’s sales in the Asia-Pacific region grew 2.5x, with yuan settlements with Chinese customers up several times over. Basic polymers and rubbers were the biggest performers.
In Q1 2022, SIBUR shipped around 30,000 tonnes per month to the Asia-Pacific, ramping up to 70,000–100,000 tonnes by year end. SIBUR’s Chinese customers now pay predominantly in yuan; however, the exact percentage of settlements in this currency is contingent on the type of product.
SIBUR sees its total sales to Asia hitting 2 million tonnes of petrochemical products. China traditionally accounts for 80% of SIBUR’s export sales to the Asia-Pacific, but the Company is actively ramping up polymer shipments to Vietnam.
