China SBL Import Volume Surges M-O-M
In April, the import volume of SBL in China climbed M-O-M, with changes in import origins.
According to GACC, in April 2024, the import volume of SBL in China reached 11,770.34mt, up 24.24% M-O-M and 66.06% Y-O-Y. From January to April, the total imports stood at 32,176.64mt, up 25.61% Y-O-Y. In April, China’s SBL imports continued to rally. Prices of main feedstock butadiene fluctuated upwards. Some of China’s SBL enterprises may adopt a bullish sentiment to the market in the short run. Besides, parts of foreign SBL units took maintenance from April to May. China’s downstream users needed to stock up for rigid demand. Thus, the overall import volume of SBL picked up M-O-M. Therein, the import volume of carboxylic SBL under HS code 40021110 gained notably.
According to GACC, in April, the import volume of SBL under HS code 40021110 reached around 3,191.01mt, up 29.11% M-O-M and 152.19% Y-O-Y. From January to April, the total import volume reached 6,870.18mt, up 75.32% Y-O-Y. In April, the import volume of SBL under HS code 40021190 was 8,579.32mt roughly, up 22.52% M-O-M and 47.35% Y-O-Y. From January to April, the total import volume was 25,306.46mt, up 16.64% Y-O-Y.
In terms of import origins, the import volume of SBL from South Korea, Japan and Germany ranked in the top three. Therein, the import volume of SBL from South Korea ranked first at 3,544.15mt, up 21.62% M-O-M and 67.12% Y-O-Y, accounting for 30% of the total. That from Japan ranked second at 2,997.86mt, up 16.81% M-O-M and 93.49% Y-O-Y, accounting for 25% of the total. That from Germany ranked third at 2,081.75mt, up 5.92% M-O-M and 38.71% Y-O-Y, taking up 18% of the total.
In the short run, the import volume of China’s SBL may remain high.
In terms of imports, most imported SBL resources mainly refer to those with high solid content. Recently, the price of natural latex has seen notable rises, and downstream latex product enterprises may uplift the demand for SBL with high solid content. Driven by elevated output and quality in China, the import volume of SBL with high solid content may further decline, but its impact may be slight in the short run. China’s downstream enterprises may continue to purchase for rigid demand. It is expected that China’s SBL imports may change slightly from May to June.
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