LATEST NEWS: China's total polymer imports rise above 3 million tons in June
When compared to June 2019, meanwhile, total imports more than doubled, indicating a sharp increase of 65%.
China’s record-high June polymer imports affirm the more-than-expected rise in the country’s June Purchasing Managers Index (PMI), which was rising to 50.9 from 50.6 in May, according to the country’s National Bureau of Statistics (NBS).
The stronger June PMI showed continued economic growth despite concerns over a sluggish recovery amid worries of a second wave of COVID-19 infections and fears of a global recession impacting on export demand.
The top five polymer exporters to China in June were Saudi Arabia (400,393 tons), South Korea (390,876 tons), India (305,457 tons), Thailand (239,166 tons) and Singapore (222,469 tons).
On a side note, Iran and the United Arab Emirates, who are in general among China’s main exporters list, couldn’t make it into the top five in June with 162,857 tons and 182,954 tons, respectively.
In product-based breakdown, China’s total HDPE imports in June increased around 7.3% from May to be reported at 859,124 tons. On a yearly comparison, meanwhile, they also jumped 44%.
Saudi Arabia was the top HDPE supplier to China with 161,127 tons, followed by South Korea (120,126 tons).
In June, two of China’s top HDPE suppliers, Iran, (86,314 tons) and the United Arab Emirates (79,097 tons) fell behind Russia (89,039 tons).
LLDPE imports climbed nearly 12% on a month over month basis to be reported at 652,658 tons in June. When compared to the same month of 2019, they surged nearly 80%.
Saudi Arabia was the top supplier to China with 132,158 tons, followed by Singapore (115,200 tons) and Thailand (76,396 tons).
China’s June LDPE imports climbed 21.5% when compared to May to reach 317,874 tons. On a yearly basis, meanwhile, they posted a smaller increase of 9%.
Iran was the top LDPE supplier to China with 46,585 tons, followed by Saudi Arabia (41,387 tons) and Qatar (35,395 tons).
June imports for homo-PP increased nearly 32% from a month earlier to be reported at 576,358 tons. On a yearly basis, they surged around 148%.
India dethroned South Korea and became the top homo-PP supplier of China’s imports with 122,143 tons in June, followed by South Korea (88,654 tons) and Saudi Arabia (60,375 tons).
India’s June homo-PP exports to China also more than tripled from 38,822 tons in May.
PP copolymer imports increased 21.5% month over month in June while they jumped around 92% from a year earlier to be reported at 218,144 tons.
South Korea outpaced Taiwan and became the top PP copolymer supplier of China’s imports with 46,415 tons in June, followed by Thailand (44,494 tons) and Taiwan (38,844 tons).
China’s total PVC imports in June surged 87% from the previous month to be reported at 172,941 tons. On a yearly basis, they jumped by 175%.
India became China’s top PVC supplier in June with 27,207 tons, followed by Taiwan (26,921 tons) and Indonesia (26,534 tons).
Imports for PS increased 26% in June when compared to May to be reported at 86,686 tons while posting a larger gain of 58% on the year.
Taiwan was the top PS exporter to China with 19,582 tons.
China’s total ABS imports in June posted a monthly gain of 15% to be reported at 166,827 tons. On a yearly comparison, meanwhile, they also climbed around 24%.
Taiwan was at the top of the ABS import list with 71,988 tons, followed by South Korea (59,274 tons).
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