Iran-China trade volume up in Jan-Aug, Iran's petchem exports surge in H1
Trade volume between the two countries reached $24.17 billion during the January-August period in 2017, showing an increase from last year’s reading of $19.5 billion
The rise was mostly attributed to China’s export volumes to Iran, which increased by 18.1% to reach $12.04 billion.
In the polymer and petrochemical industry, however, Iran’s polymer exports to China decreased by 5% in the first 8 months of this year, according to ChemOrbis Import Statistics. This is despite the fact that the trade volume between China and Iran was up considerably and Iran’s overall petrochemical and polymer exports rose by 12% in tonnage during the first six months of 2017 from the same period of 2016, according to a report released by Iran’s National Petrochemical Company.
In terms of value, the overall petrochemical and polymer exports also rose by $1.2 billion to $5.57 billion in the same timeframe. Accordingly, Iran’s total revenue from petrochemical exports reached $9.55 billion while the country’s petrochemical output was 5% higher from last year to be reported at 27 million tons.
The report also showed the country exported a major part of its petrochemical output to India, China and South Korea.
Iran is reportedly aiming to increase its current 5.55 million tons of output from its petrochemical complexes to 11.4 million tons as of March 2018.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand
- Taiwanese major hikes Aug PVC offers to Asia as limited availability outweighs monsoon effect