Iranian HDPE loses market share in China, focuses more on Turkey
Contrary to China, overall HDPE imports in Turkey fell by 16% in total in the first five months of this year, which is marked as the lowest amount of imports for this product since 2010 in Turkey, according to ChemOrbis Import Statistics. As the largest HDPE supplier of Turkey, Saudi Arabia posted a more remarkable market loss in the same timeframe as imports from this country fell by 29% on a yearly basis. Cumulative HDPE imports from Iran, meanwhile, were steady in the first five months of this year when compared to the same period of last year.
Although Iranian HDPE imports did not change much in January-May 2017, the market share of Iran in Turkey’s overall HDPE imports was up by 4% to almost 20% so far this year, suggest ChemOrbis Import Statistics. This is due to the fact that Turkey imported less HDPE in total this year but apparently more from Iran.
The reason behind Iranian HDPE imports’ slump in China and gaining more market share in Turkey is cited as the payment issues for Iranian cargoes at Chinese banks. Chinese players have been complaining about this problem for the past few months as was previously mentioned in detail in ChemOrbis Plastics News including Chinese traders: Banks reluctant to open L/Cs on transactions with Iran , PE prices in China, Turkey under visible pressure from Iran and Sellers in China remain under high sales pressure for Iranian PE .
This fact apparently pushed Iranian sellers to focus more on Turkey for their HDPE sales particularly in April and May as Turkey is the next largest spot market. This also explains how Iran managed to maintain its size of exports to Turkey in the first five months of this year on an annual basis in a shrinking market.
You can track China’s imports on a monthly/yearly basis by country and by product as well as Turkey’s imports by country and by product (For members only).
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