|Azodicarbonamide (AC foaming Agent)|
In 2020, the import volume of HDPE will be 9.1 million tons, an increase of 14% over the previous year; LLDPE will be 6.7 million tons, an increase of 17%; LDPE will be 3.4 million tons, a decrease of 1%; EVA will be 1 million tons, a decrease of 3%. Production in North America and Eastern Europe increased significantly, while supply in the Middle East grew little.
China has recovered rapidly from the pandemic, and by June 2020, the import volume of ethylene polymer has set a new record. In the third quarter, the import volume of ethylene polymer continued to maintain a high level, but slowed down in the fourth quarter. During this period, the import volume usually surged before the decline of manufacturing industry. Due to the Lunar New Year (February 12, 2021). The shortage of containers may lead to a decrease in quantity and a rise in price, with an average price of US $1096 per ton in December.
Despite a substantial increase in China’s total imports, supply from the Middle East grew by only 1% to 9.2 million tons. Imports of polymers from Saudi Arabia, Iran and Qatar decreased, but supply from the UAE increased strongly.
Supply in the Asia Pacific region increased by 7% to 8.2 million tons. Imports from North America (the United States and Canada) increased by 65% to 1.8 million tons. Imports from Eastern Europe (mainly Russia) surged 204% to 1.1 million tons.
In 2020, China’s polypropylene import will increase by 25% to 6.8 million tons.
|ferric sulfate (Poly ferric sulphate)|
Imports from the Asia Pacific region increased by 24% to 4.9 million tons; imports from the Middle East increased by 26% to 1.4 million tons, and all other regions. From August to December, the average price soared to $1190 per ton.
China’s largest and fastest-growing import sources include South Korea, Taiwan, the United Arab Emirates, Saudi Arabia, Thailand, India, Japan and Malaysia.
Due to the epidemic and the Spring Festival, imports were slow in the first quarter. However, with the epidemic under more control and the increasing demand for PP products at home and abroad, imports reached a record high of 850000 tons in June. Then the output slowed down, stabilized at about 600000 tons per month from August to November, but dropped to 554000 tons in December.
Given the traditionally strong annual import volume since December, at least from December 2016, the annual import volume has been strong since December, as buyers increase production before each lunar new year (February 12, 2021). Rising freight rates, container shortages and slowing demand may be factors to consider.