Highest China’s PBR Import Volume in June
China’s PBR import volume rose in H1 of 2020, and the import volume hit a new high in June 2020.
In June 2020, China’s PBR import volume was 36kt, up 90%-95% M-O-M and Y-O-Y. In H1 of 2020, China’s PBR import volume was 116.5kt, up about 13% Y-O-Y. Although the monthly import volume of PBR hit a historical high, it was lower than the average import volume in the first half of last few years since 2007.
As seen from the import time and import volume, the imported PBR resources cleared in June are generally ocean-going resources ordered in April, and the near-sea resources are orders in May or June. As for the import price of shiploads, the average import price of HCBR shiploads from H2 April to H1 June was $850/mt which was the lowest price according to SCI’s statistics. The price of imported PBR resources was about RMB 800/mt lower than the price of Chinese-made PBR resources. In addition, the price of international butadiene resources inched up steadily starting from May, arousing players’ bullish sentiment to some extent. Consequently, China’s PBR import volume in June surged.
According to China’s PBR import statistics in H1 of 2020 by origin, the Y-O-Y increase in import volume from India was the largest. The import volume from South Korea ranked first, and that from Russia went up to the third place. Influenced by the global public health emergency, China became the main PBR export market. As seen from the average import price, the average import price of some Europe-origin PBR resources was $700-800/mt, and the prices of some India-origin PBR resources were $600-800/mt.
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