Metallurgy / Chemicals / Rubber & Plastics

According to the statistics of customs, in October 2022, China's polyethylene import volume in that month will be 1.1401 million tons, a decrease of 6.06% month on month and a year-on-year increase of 7.09%. Among them, LDPE (tariff No. 39011000) imports about 253200 tons, a month on month decrease of 11.28% and a year-on-year increase of 14.16%; HDPE (Tariff No. 39012000) imports about 498100 tons, decreasing 9.02% month on month and 3.04% year on year; LLDPE (tariff No. 39014020) imported about 388800 tons, an increase of 2.10% month on month and 18.14% year on year. From January to October, the cumulative import volume was 11.1083 million tons, a year-on-year decrease of 9.88%. Due to the expectation of storage and maintenance of some overseas devices, the overseas supply is expected to decrease, the superimposition US dollar exchange rate will gradually rise, and the import profit will shrink, which will restrain the intention of domestic traders to take goods. In addition to the interference of domestic epidemic, China's polyethylene import volume decreased slightly in October.

In October 2022, the proportion of polyethylene import source countries in the top ten will change slightly, Canada will be in the top ten, and others will be adjusted slightly. According to customs data, Saudi Arabia still ranks first, with the total import volume of 259300 tons, an increase of 13.33% month on month, accounting for 22.74%; Iran ranked second, with total imports of 151800 tons, a year-on-year decrease of 27.75%, accounting for 13.31%; The third place is the United Arab Emirates, with total imports of 149400 tons, up 0.61% month on month, accounting for 13.10%. Four to ten are the United States, South Korea, Singapore, Thailand, the Russian Federation, cartels and Canada.

According to the customs data, in October, Zhejiang Province ranked first in terms of the registered place of polyethylene imports, with the import volume of 324600 tons, accounting for 28.47%; Shanghai was the second largest city, with an import volume of 209900 tons, accounting for 18.41%; Guangdong Province ranks third, with the import volume of 155300 tons, accounting for 13.62%; Shandong Province ranked fourth, with the import volume of 145000 tons, accounting for 12.72%; Fujian, Jiangsu, Beijing, Tianjin, Hebei and Hunan ranked fourth to tenth respectively.

In October, China's polyethylene import trade partners accounted for 84.26% in general trade, a decrease of 6.24% month on month, and the import volume was about 960600 tons. The import processing trade accounted for 7.96%, up 0.67% month on month, and the import volume was about 90,700 tons. The proportion of logistics goods in areas under special customs supervision was about 5.60%, a year-on-year decrease of 13.32%, and the import volume was about 63800 tons.

In terms of exports, customs data show that the export volume of polyethylene in October 2022 is about 58800 tons, an increase of 21.03% month on month and 79.32% year on year. Specifically, LDPE exports were about 181700 tons, down 2.08% month on month and up 86.17% year on year; HDPE exports were about 253200 tons, up 38.08% month on month and 39.36% year on year; LLDPE exported about 15340 tons, up 30.94% month on month and 214.42% year on year. According to customs data, the cumulative export volume from January to October was 6011000 tons, a year-on-year increase of 34.89%. The market price in China is affected by public health events in many places. Supply exceeds demand, and the price is at a low level. More goods flow to areas with high prices such as Southeast Asia.

In November, the Chinese market is expected to have a large number of low-cost goods arriving in Hong Kong, and the import increase will be more obvious at that time. In terms of exports, November is at the end of the domestic demand peak season, and downstream demand is difficult to see a turning point for improvement. Some businesses have strong export intentions. However, Europe and the United States continue to tighten monetary policy under high inflation. Under the concern of global economic recession, the competition in the export market is more intense. It is expected that the export volume in November will grow slightly month on month.