China’s total PE imports slump in February on weak demand
As can be seen in the below ChemOrbis Stats Wizard graph, overall PE imports plunged to around 780,000 tons last month, the lowest monthly figure since October 2016.
The remarkable decline in the country’s appetite for import PE is mostly attributed to the fact that buyers started to retreat to the sidelines by around late January ahead of the one-week long Chinese New Year holiday, which started on February 14.
“Most converters refrained from making import purchases in the pre-holiday period and met their urgent needs from the local market,” traders noted.
Meanwhile, overall domestic polyolefin supplies increased notably during the holiday in February when most converters were away from their desks. This week, a few sellers affirmed, “Stock pressure persists inside China as we hear that two major producers’ total polyolefin inventories remain above 900,000 tons.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PE and PVC imports from US flooding Europe
- Indonesia’s polyolefin markets sustain uptrend
- Asian PVC markets shaken by sharp fall in Taiwanese major’s Apr pricing
- March PE prices take split paths in Africa, Mid-East
- Asian PS markets touch 4-month high amid volatile styrene
- Turkey’s PP market attracts deep-sea origins at 4-month high
- European ABS rebounds from 3-year low
- Firming persists in Vietnam’s PE market, shrugging off ethylene
- European styrene continues to climb up, Asia remains cautiously firm
- PP market up from a year-low in Europe; yet hikes beyond C3 see resistance