China March NR Import Volume Increased M-O-M

1. China NR Monthly Import Review                   

In March, China’s NR (including NR latex and mixed rubber) import volume was 440.3kt, up 52.65% M-O-M and down 17.36% Y-O-Y. Hereinto, the import volume of NR latex was 78.6kt, up 302.54% M-O-M and up 42.58% Y-O-Y. The import volume of ribbed smoked sheet was 16.9kt, up 34.85% M-O-M and down 48.13% Y-O-Y. The import volume of standard rubber was 115kt, up 46.31% M-O-M and down 47.75% Y-O-Y. The import volume of compound rubber was 9.8kt, up 58.06% M-O-M and down 6.67% Y-O-Y. The import volume of mixed rubber was 219.9kt, up 28.15% M-O-M and up 2.52% Y-O-Y.

2. China NR Monthly Import Analysis (by Variety)

2.1 Ribbed Smoked Sheet

In March, the import volume of ribbed smoked sheet was 16.9kt, up 34.85% M-O-M and down 48.13% Y-O-Y. The import volume of ribbed smoked sheet took up about 3.84% of the total NR import volume in March. There were two reasons for the increment in the import volume of ribbed smoked sheet. Firstly, the shipment was delayed to March, due to the Spring Festival. Secondly, participants estimated that the demand would rise after the Spring Festival, so they were active in procurement before the Spring Festival. The imported resources arrived at the ports intensively. As the demand was relatively soft and the NR market was sluggish, the import volume dropped from last year. In March, the import volume of ribbed smoked sheet from Thailand accounted for about 83.80% of the total.

2.2 Standard Rubber

The import volume of standard rubber was 115kt, up 46.31% M-O-M and down 47.75% Y-O-Y. The import volume of standard rubber took up about 26.12% of the total NR import volume in March. The import volume of standard rubber from Thailand accounted for about 55.30% of the total, while the import volume from Malaysia and Indonesia took up about 22.18% and 16.85% of the total. The import volume from the top 5 origins all increased from last month but dropped from last year.

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