Polymers Market : Plastics News and Resin Prices

08-07-2020

Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out


According to data from ChemOrbis Import Statistics, China’s overall PP imports jumped 43.5% on a monthly basis in May to reach 617,255 tons. This indicates the highest monthly volume ever since ChemOrbis started compiling data in 2001.


When compared to the same month of 2019, overall PP imports also climbed 59%.


The notable monthly/yearly gains in China’s total polypropylene imports in May came despite weak export sales and slow demand amid the COVID-19 pandemic that has penetrated the world economies since December 2019.


May PP volumes in detail


In product-based breakdown, the country’s PP copolymer imports increased 33% month over month in May to 179,556 tons. Homo-PP imports, meanwhile, posted a sharper increase of 48% from a month earlier to be reported at 437,699 tons.


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Ranking among top three homo-PP suppliers changes


In May, South Korea remained at the top of the homo-PP import suppliers’ list with 96,197 tons, followed by Vietnam, India and Singapore.


Distinctively; some countries mostly known among top homo-PP suppliers to China including Saudi Arabia, Taiwan and the United Arab Emirates fell behind Vietnam and India in May.


Vietnam’s homo-PP exports to China more than doubled from 18,879 tons in April to 40,047 tons in May. When compared to the same month of last year, they rose more than fivefold.

May volumes for Indian homo-PP indicated an enormous increase, standing at 38,822 tons. In April, China imported only 2,209 tons of homo-PP from India.


Cumulative PP-copolymer imports in Jan-May hit record-high


China’s cumulative PP-copolymers imports reached around 661,000 tons in the first five months of 2020, increasing nearly 7% on a year over year basis. This also refers to the highest total volume ever, according to ChemOrbis data.


The country’s cumulative homo-PP imports also climbed to more than 1,5 million tons, up by around 13.5% on a year over year basis. The last time total homo-PP imports in the Jan-May period reported above this volume was back in 2014, ChemOrbis data also show.



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