Chemical News of Weak sentiment in PS market

       In February 2022, China imported 62,100 tons of PS raw materials at an average import price of US$1,271.21/ton. In February, the domestic PS market was affected by the Chinese New Year holiday and the contradiction between supply and demand, with a weak mentality and a poor overall trading rhythm. The following is a brief analysis of the March import data.

　　I. February 2022 PS import volume year-on-year / ringgit

　　The import volume in February 2022 decreased by 14,200 tons or 18.61% year-on-year compared with the import volume in February 2021, and decreased by 14,300 tons or 18.72% ringgit compared with the import volume in January 2022.

　　II. Analysis of PS data by provinces/producing and selling countries in February 2022

　　From the import data of each province, we can see that East China and South China are the largest import PS clearance regions in the country. nearly 90% of the total import volume in February. Among them, Guangdong Province imported 28,300 tons, accounting for 45.59%; Shanghai imported 11,500 tons, accounting for 18.60%; Zhejiang Province imported 0.77 million tons, accounting for 12.44%; Jiangsu Province imported 0.38 million tons, accounting for 6.14%; Shandong Province imported 0.43 million tons, accounting for 6.92%.

　　From the production and marketing country statistics can be seen in February from China Taiwan, Malaysia and Hong Kong, China's imports of three strong pattern has not changed, accounting for more than 60% of the total imports. Among them, 0.92 million tons imported from Taiwan, China, accounting for about 14.95%; 12,300 tons imported from Hong Kong, China, accounting for about 19.76%; 16,300 tons imported from Malaysia, accounting for about 26.34%.

　　Third, in February 2022 PS import cost comparison analysis

　　The average import price of PS in February 2022 was US$1,271.51 per tonne, up US$76.74 per tonne or 6.42% year-on-year; down US$69.4 per tonne or 5.18% year-on-year.

　　Fourth, next month's import data outlook

　　In March, as domestic demand is in a vacuum, the overall social inventory is at a high level, and the pace of depot is not good. Combined with foreign public health events, under the negative impact of multiple parties, the import sources corresponding to market demand or a big discount. In summary, it is expected that PS import data in March will not be able to play a normal level.