January-February 2022 China's Polyethylene Imports And Exports a Decrease And An Increase

According to customs statistics, the total import of PE in January-February 2022 was about 2,217,900 tons, a decrease of 13.46% compared with the same period last year. Among them, LDPE (Tariff No. 39011000) imported about 482,200 tons, down 11.47% compared with the same period last year;

HDPE (Tariff No. 39012000) imported about 1,013,500 tons, down 7.64% compared with the same period last year; LLDPE (Tariff No. 39014020) imported about 722,200 tons, down 21.59% compared with the same period last year.

Just before and after the Spring Festival holiday, the downstream start rate was low and the domestic digestion capacity was weak, meanwhile, energy prices were firm and US dollar prices were higher than domestic prices, while shipping problems exacerbated the supply-demand gap in certain areas, which also caused the supply China PE imports to remain low.

From January to February, the largest trading partner for PE imports was Saudi Arabia, with total imports of 475,900 tonnes, accounting for 21.46%; second place went to Iran, with total imports of 328,300 tonnes, accounting for 14.80%; third place went to the UAE, with total imports of 299,600 tonnes, accounting for 13.51%.

From January to February, the region where China imported the most polyethylene was Zhejiang Province, with a total import volume of 586,700 tons, accounting for 26.45%; the second place was Shanghai, with a total import volume of 411,300 tons, accounting for 18.55%; the third place was Shanghai, with a total import volume of 313,700 tons, accounting for 14.14%.

From January to February, China's polyethylene imports trade partners, general trade field imports amounted to about 1,830,800 tons, accounting for 82.55%. The import quantity of import of import processing trade is about 212,400 tons, accounting for 9.58%. The number of imports of logistics goods in special customs supervision areas is about 127,700 tons, accounting for about 5.76%.

On the export side, the import volume of polyethylene in China showed a decline from January to February 2022, while in sharp contrast to it, the export rose sharply. Statistics show that January-February 2022 polyethylene exports of about 53,100 tons, an increase of 29.76% over the same period last year.

Specifically divided into products, LDPE (tariff No. 39011000) exports about 22,100 tons, an increase of 52.28% over the same period last year; HDPE (tariff No. 39012000) exports about 25,400 tons, an increase of 21.83% over the same period last year; LLDPE (tariff No. 39014020 exports about 0.56 million tons, an increase of 0.71% over the same period last year.

With the release of new domestic production capacity, domestic production climbed, export channels were further opened up, while overseas market producers increased plant maintenance, supply has been reduced, and foreign prices are higher than domestic prices, export dividends show continued growth.

Affected by the Russian-Ukrainian geopolitical crisis conflict, the high cost of international crude oil prices driven by high prices, imported polyethylene prices are also higher, is expected to March imports are difficult to have a big breakthrough.

Exports, due to demand recovery than expected, the end of February social inventory is high, resources to be further digested, and the current external demand has not yet seen the top back down, the global supply and demand gap is still in, combined with the impact of the "Omicron" new strain of poison, is expected, March polyethylene exports will remain a certain degree of growth.