China’s import PS market size continues to contract
China imported more than 484,000 tons of PS for the full year 2016, displaying a yearly contraction of around 13% following a decrease of 11% in 2015, 46% in 2014 and 11% in 2013 in market size. The cumulative imports of 2016 also stood less than half of the imports made in 2010.
Recent statistics show that China’s PS imports in January 2017 also plunged by 36.9% when compared to previous month and 14% when compared to the same period of last year, implying that PS imports will continue to diminish throughout 2017. This was also the sharpest drop among all polymer imports of China.
China’s growing domestic capacity as well as the shift of buyers to other products due to their applications and more competitive prices have been playing a role in this steady contraction of China’s PS imports.
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