Metallurgy / Chemicals / Rubber & Plastics

According to customs data released by the General Administration of Customs of the People's Republic of China, the import volume of nitrile rubber latex in March 2023 was 15317.15 tons, an increase of 64.58% month on month and 30.03% year on year; The total import volume from January to March 2023 was approximately 32329.23 tons, a year-on-year increase of 24.36%. In March, orders from some glove factories in China continued to improve, with some head glove factories operating at 60-80%. The presence of demand has made them more willing to accept orders. At the same time, glove factories often purchase imported goods through import processing trade, and the relatively limited cost pressure also makes them maintain a certain level of import enthusiasm.

In terms of exports, according to customs data released by the General Administration of Customs of the People's Republic of China, the export volume of nitrile rubber latex in March 2023 was 1656.60 tons, an increase of 89.38% month on month; A year-on-year decrease of 29.16%; The total export volume from January to March 2023 was approximately 5219.13 tons, a year-on-year decrease of 59.75%. On the one hand, there is currently ample supply of nitrile latex in China, and exports undoubtedly expand sales channels for the market. On the other hand, some overseas regions have slightly higher prices than the Chinese market, and the existence of export arbitrage space and the support of export tax rebate policies have also attracted some manufacturers' export enthusiasm. At the same time, the global demand for disposable gloves has returned to rational adjustment, and the presence of rigid demand resilience has gradually driven the repair and increase of China's nitrile latex export volume.

According to customs data, in March 2023, the total amount of nitrile rubber latex imported from South Korea, Malaysia, and Japan ranked among the top three in terms of import trading partners. Among them, South Korea ranks first, with approximately 11620.09 tons of nitrile latex imported from South Korea, an increase of 41.52% month on month and 20.27% year-on-year, accounting for 76% of the total import volume. Secondly, Malaysia imported approximately 3146.42 tons of nitrile rubber latex from Malaysia, a month on month increase of 559.06% and a year-on-year increase of 141.81%, accounting for 21% of the total import volume. Japan ranks third, with approximately 352.04 tons of nitrile latex imported from Japan, a decrease of 22.65% month on month and 31.39% year-on-year, accounting for 2% of the total import volume.

According to customs data, in March 2023, the number of nitrile latex exported to Malaysia ranked first among export trading partners, with a total of 784.38 tons in March, an increase of 87.24% month on month and a year-on-year decrease of 45.26%, accounting for approximately 47% of the total export volume. The quantity of nitrile latex exported to Algeria ranks second, with a total of 240 tons in March, a month on month increase of 503.02% and a year-on-year increase of 23.33%, accounting for approximately 14% of the total export volume. The quantity of nitrile rubber latex exported to Türkiye ranked third, with 238 tons in March, accounting for about 10% of the total export volume.

Customs data shows that from April to May, in terms of imports and downstream glove factories, there are differences in the performance of various enterprises in terms of starting operations. The order levels of top enterprises are still good, and the enthusiasm for starting operations is high. However, the level of starting operations for small and medium-sized enterprises is not optimistic. Overall, the demand for nitrile latex continues to increase or is narrow. Therefore, it is expected that the import volume of nitrile latex will continue to grow or be under pressure in April to May. In terms of exports, it is reported that glove factories in Southeast Asia are currently undergoing rational adjustments, and the export volume of China's nitrile latex may also undergo rational repairs.