Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
Despite the yearly increase, they both indicated the lowest quarterly figure in the import statistics since the first quarter of 2020.
China’s PP, PE demand improves in March compared to February
Buying appetite was slow in China during February as there was a holiday lull due to the Chinese New Year. In March, however, there was an improvement in demand amid buyers’ return to the market while factories resumed operations earlier than the usual holiday period. This found a reflection on economic data as well and the country’s March PMI data displayed a rebound.
Details of Q1 volumes
While lower import volumes in February weighed on the country’s overall imports in the first quarter, higher March figures made the largest contribution.
China’s LDPE imports in the first quarter increased almost 24% on the year to be reported at around 914,000 tons. When compared to the final quarter of 2020, on the other hand, they were down by 3.5%.
The country’s total HDPE imports lost 6% from a year earlier in the January-March period to reach more than 1.7 million tons. When compared to the final quarter of 2020, meanwhile, they posted a larger decrease of 21%.
China’s LLDPE imports witnessed a yearly gain of 21% to reach more than 1.5 million tons in the first three months of the year. When compared to the final quarter of 2020, meanwhile, they recorded a decrease of 4%.
PP-Homopolymer imports increased 5% from a year earlier in the first three months to reach more than 800,000 tons. When compared to the final quarter of 2020, meanwhile, they fell 27%.
The country’s total PP-copolymer imports edged up 3% from a year earlier in the January-March period to reach nearly 400,000 tons. When compared to the final quarter of 2020, meanwhile, they were down by 18%.
Meanwhile, the country’s top suppliers for each product are available in the table below.
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