China's PE imports hit a new record of 12 m tons in first 3 quarters
Despite deepening concerns over economic growth and the prolonged trade war with the US, data suggest that the country’s demand for PE continues to grow at a fairly rapid rate.
HDPE accounts for almost half of total PE imports
China’s cumulative HDPE imports in the January-September period jumped 16.4% from a year earlier to reach almost 6 million tons, accounting for almost half of its overall PE imports.
LLDPE imports surge 20.5% on a yearly basis to be reported at almost 3.9 million tons in the Q1-Q3 period of 2019 while LDPE was up by 16% over the same period to reach around 2.5 million tons.
Saudi Arabia remains as the top supplier of HDPE, LLDPE
During the first nine months of the year, China imported the most volume of HDPE and LLDPE from Saudi Arabia. The country’s top LDPE supplier, meanwhile, remained as Iran with around 600,000 tons in the same period.
HDPE, LLDPE and LDPE imports from Saudi Arabia increased 15%, 27% and 12% on the year, respectively, taking China’s total PE imports from the country to nearly 2.9 million tons.
HDPE and LLDPE imports from US plunge
Data reveal that China’s HDPE imports from the US in the first nine months of the year slumped almost 80% from last year while LLDPE was also down by 57%, reflecting the consequences of the long-lasting US-China trade war.
Is PE set to break a new record in 2019?
Considering the three-quarter data, China is highly likely to renew its record for PE imports at the end of 2019. Even though some analysts keep addressing concerns over the global economy for the upcoming period and the trade war, China continues to grow its demand for PE.
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