Metallurgy / Chemicals / Rubber & Plastics

According to statistics, in May 2021, the total import of PE was about 1,225,900 tons, a decrease of 9.03% month-on-month and a year-on-year decrease of 31.61%. Among them, LDPE (Tax Code 39011000) imports about 221,500 tons, a decrease of 13.32% month-on-month and 15.35% year-on-year; HDPE (Tax Code 39012000) imports about 545,700 tons, a month-on-month increase of 0.26% and a year-on-year decrease of 31.85%; LLDPE (Tax Code 39014020) ) Imported about 358,700 tons, a decrease of 18.08% month-on-month and a year-on-year decrease of 38.57%. The cumulative import volume from January to May was 6,581,900 tons, a decrease of 4.16% year-on-year.

Since the third quarter of last year, China's new PE production capacity has increased, which has weakened import demand. 2021 will still be the year for the centralized production of the equipment. The current production equipment includes Lianyungang Petrochemical and Huatai Shengfu 400,000 tons/year HDPE equipment and 400,000 tons/year linear low-density polyethylene/HDPE equipment. Within the month, Lu Qing Petrochemical's 750,000-ton/year PE device is planned to be put into production. Taking into account the domestic PE production capacity, the lowering of the price center under domestic competition, and the larger import volume base factor, polyethylene imports are expected to continue to increase in the past 2-3 years, but increase The speed may slow down.

In terms of exports, according to statistics, in May 2021, the total export of PE was about 77,500 tons, an increase of 6.38% month-on-month and an increase of 258.09% year-on-year. Among them, LDPE (Tax Code 39011000) exports about 20,900 tons, an increase of 33.62% month-on-month, and an increase of 224.86% year-on-year; HDPE (Tax Code 39012000) exports about 42,700 tons, a month-on-month decrease of 10.25% and a year-on-year increase of 238.77%; LLDPE (Tax Code 39014020) ) The export was about 13,900 tons, an increase of 43.96% month-on-month and an increase of 432.84% year-on-year. The sharp increase in export volume was mainly due to the outbreak of the epidemic in India and Southeast Asia. The export volume of medical protective materials rose sharply. In addition, the overall domestic market was slightly weak, and the price of domestic and foreign stocks was upside down, which also helped the volume of launches to rise sharply.

At present, the gap between overseas supply and demand has not yet been repaired, and due to multiple factors such as the successive release of some of the domestic new production capacity, the successive start-up of the original overhaul devices, and the relatively small number of new overhauls, the supply of domestic materials is under greater pressure. In addition, with the continuous improvement of the quality of domestic brands and the research and development of special materials, short-term PE exports are still likely to increase. We believe that with the easing of the global epidemic, the implementation of quantitative easing policies and economic stimulus policies in Europe and the United States and other factors, and the promotion of the Regional Comprehensive Economic Partnership Agreement, the expansion and improvement of the demand side of export trade are still relatively strong for my country’s exports. Supporting role.