Q1, 2022 China PBR Import and Export
Introduction: In Q1, 2022, China’s PBR import volume decreased from last year and was relatively low in recent years. China’s PBR export import volume went down but remained high in recent years.
China’s PBR import analysis
In March 2022, China’s PBR import volume was 17.2kt, up 63.48% M-O-M and down 18.34% Y-O-Y. In Q1, 2022, China’s PBR import volume totaled 44.8kt, down 8.57% Y-O-Y. In Q1, 2022, the overall supply of Chinese-made PBR was ample, but the demand significantly went lower from the same period of last year. According to SCI, in Q1, 2022, China’s PBR output rose by 10.8% Y-O-Y, but in the major downstream application field, China’s all-steel tire output dropped by 21.3%. The change in China’s supply and demand pattern led to a decrease in PBR import volume.
In terms of China’s PBR import origins, in Q1, 2022, the top 7 were South Korea, Japan, Saudi Arabia, U.A.E, Thailand, Taiwan of China and France. Therein, China’s PBR import volume from Saudi Arabia and U.A.E changed notably. In Q1, 2022, owing to the cost advantage, China’s PBR import volume from Saudi Arabia rose by 64.77% Y-O-Y, and that from U.A.E rose by 26.09% Y-O-Y.
China’s PBR export analysis
In March 2022, China’s PBR export volume was 6.4kt, up 32.59% M-O-M and down 27.59% Y-O-Y. In Q1, 2022, China’s PBR export volume totaled 18.3kt, down 33.00% Y-O-Y. Although China’s PBR export volume in Q1, 2022 showed a notable Y-O-Y decrease, it still remained high in recent years. First, the supply of Chinese-made PBR was ample. Second, the PBR price in Southeast Asia was continuously higher than that in China. As the export arbitrage window opened, some players were active in operation.
In terms of China’s export destinations, the top five were Thailand, Vietnam, Taiwan of China, Philippines and Hong Kong of China. The major export destinations were still Thailand and Vietnam, with export proportion of over 80%. The plants built by China’s tire enterprises in Southeast Asia are mainly located in Thailand and Vietnam where the demand for PBR is greater than that in other regions.
Q2, 2022 China’s PBR import forecast: In April, many China’s HCBR units reduce operating rates, and these units are predicted to resume normal production in May. Afterwards, only a unit in East China is scheduled to undergo maintenance from H2 May to mid-June. In Q2, 2022, China’s PBR supply is predicted to show a V-shaped trend. SCI learned that due to the shipping schedule, some pre-ordered ocean-going resources are still being delivered. It is expected that China’s PBR import volume will remain relatively high in April and go down from May to June.
Q2, 2022 China’s PBR export forecast: The export profit is relatively considerable. As some major PBR export regions are likely to change the resource supply, some businesses choose to seek alternative resources from China to export to other countries and regions. Therefore, it is predicted that China’s PBR export volume in Q2, 2022 will increase from Q1, 2022.
All information provided by SCI is for reference only, which shall not be reproduced without permission.
Please click "Read more" for the full article.
