Stats: Broad weakness hits China’s Oct polyolefin trade; PP exports sink to 9-month low

ChemOrbis Stats Wizard data shows that China’s PP and PE trade weakened across the board in October. Imports pulled back after September’s strong gains, while exports continued to lose momentum. The contractions in imports were more pronounced on a year-on-year basis, reflecting persistently soft downstream consumption. Despite extensive domestic capacity additions, imports still exceeded exports, reaffirming China’s reliance on overseas supply.

PP records lowest exports since February

China’s total PP imports fell by around 6% month-on-month and posted a deeper 12% annual decline in October. Exports extended their downward trajectory, edging 1% lower from September and marking their smallest monthly volume since February. Even so, PP export volumes remained roughly 19% higher than the same period last year.

In value terms, China imported around $293 million worth of PP and exported just over $234 million in October.

Vietnam remains primary outlet for Chinese PP

While the top three PP suppliers to China remained unchanged from September, their rankings shifted. With a 19% market share, South Korea retained its leading position. Singapore moved up to second place with a 17% share, leaving the UAE trailing in third position with a 12% share.

On the export side, Vietnam cemented its role as China’s leading PP buyer, as it stayed on top of China’s export destination over the past year, despite changes in the position of fellow countries. Vietnam accounted for 17% of total shipments, followed by Peru (8%) and Indonesia (6%).

PE imports slightly retreat; exports at 8-month lows

China’s October PE imports—including HDPE, LDPE, LLDPE, and mLLDPE—slipped marginally by around 0.5% from September, but yearly comparison showed a sharp decrease of 17%. The total PE import value reached approximately $1.07 billion.

PE exports recorded a sharper downturn, falling 15% on a monthly basis and hitting their lowest volume since March. Despite this soft patch, exports still surged by more than 37% compared with October 2024. In value terms, China earned total PE export revenue of around $100 million.

US-origin PE gradually rebounds

After a steep decline in June-July, US-origin PE made a notable return to China in October. The US re-entered the list of top five PE suppliers, ranking fourth with a strengthened 11% market share. This rebound was largely facilitated by easing tariff conflicts between the two countries, which improved the movement of US cargoes into China.

In the meantime, the UAE remained China’s top PE supplier with an 18% share, followed by Saudi Arabia (13%) and South Korea (11%). Notably, South Korea’s share was only 0.4% above that of the US, highlighting the growing re-emergence of US-origin PE resins.

As for exports, Vietnam also topped the list of export destinations for Chinese-origin PE, accounting for 14% of total shipments. The Philippines (9%) and Bangladesh (7%) followed, reflecting the continued importance of Southeast and South Asia as key outlets for China’s PE exports.