Stats: China’s Q1 PE imports recover from a 4-year low
HDPE makes the largest contribution to Q1 results
China’s total HDPE imports in Q1 were 1,628,970 tons, with Saudi Arabia (377,329 tons) remaining the top supplier.
HDPE was followed by LLDPE imports of 1,162,877 tons in the first three months of 2022. Saudi Arabia was again the most preferred destination when it comes to importing HDPE with 285,428 tons.
LDPE ranked third with 778,308 tons, with Iran (778,308 tons) being the main supplier.
Q2 results may reverse due to renewed Covid-19 challenges
Since late March 2022, China has been in a real struggle to contain the latest Covid-19 outbreak, with a wider ban on movements and imposed lockdowns in major financial hubs including Shanghai. The capital Beijing has also stepped up curbs recently, as increasing cases in the area triggered fears of a Shanghai-like lockdown.
Considering the lockdowns and gridlocks caused by the impact of such measures, the recovery in Q1 results are not likely to be extended into Q2.
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