HDPE imports in 2020 are 9.1 million tons, an increase of 14% over the previous year; LLDPE is 6.7 million tons, an increase of 17%; LDPE is 3.4 million tons, a decrease of 1%; EVA is 1 million tons, a decrease of 3%. Production in North America and Eastern Europe has increased significantly, while supply in the Middle East has rarely increased.
China has rapidly recovered from the pandemic, and by June 2020, the import volume of ethylene polymers has set a new record. By the third quarter, imports of ethylene polymers continued to remain high, but slowed down in the fourth quarter, a period during which imports usually surged before the manufacturing sector declined. Due to the Lunar New Year (February 12, 2021). The shortage of containers may lead to reduced quantities and higher prices. The average price in December was US$1,096/ton.
Despite the substantial increase in China’s total imports, the supply from the Middle East only increased by 1% to 9.2 million tons. Imports of polymers from Saudi Arabia, Iran and Qatar have decreased, but supplies from the UAE have grown strongly.
The supply in the Asia-Pacific region was 8.2 million tons, an increase of 7%. Imports from North America (the United States and Canada) increased by 65% to 1.8 million tons. Imports from Eastern Europe (mainly Russia) soared 204% to 1.1 million tons.
polypropylene
China's polypropylene imports will increase by 25% in 2020, reaching 6.8 million tons.
Imports from the Asia-Pacific region were 4.9 million tons, an increase of 24%; imports from the Middle East were 1.4 million tons, an increase of 26%, and all other regions. The average price from August to December soared, reaching $1190/ton.
China’s largest and fastest growing import sources include South Korea, Taiwan, UAE, Saudi Arabia, Thailand, India, Japan, and Malaysia.
Due to the pandemic and the Spring Festival, imports were slow in the first quarter. However, with more control of the epidemic and increasing domestic and foreign demand for PP-produced products, imports reached a record peak of 850,000 tons in June. Then production slowed down, stabilizing at around 600,000 tons per month from August to November, but fell to 554,000 tons in December.
In view of the traditional strong annual import volume since December at least from December 2016, the annual import volume has been strong since December because buyers are before every Chinese New Year (February 12, 2021) Increased output. Rising freight rates, container shortages and slowing demand may be considerations.
