Jun 2023 China PVC Paste Import & Export Volume Change
Preface: China’s PVC paste import volume saw an M-O-M growth, while its export volume inched down in June.
According to GACC, the import volume of PVC paste was 5,674.74mt, up 8.79% M-O-M but down 3.02% Y-O-Y. The average import price was $1,157.92/mt, down 14.12% M-O-M. The cumulative import volume from January to June was 29,840.74mt, down 20.59% year-on-year.
China’s PVC paste imports are mainly glove materials and general materials. Among them, some grades of imported general materials have no domestic alternatives, and the demand is relatively stable. In June, the demand for glove materials still accounted for a large proportion. In June, China’s domestic PVC glove products enterprises mainly belonged to medium and large-sized enterprises. Prices of several grades of glove materials were relatively high, so a couple of buyers showed higher demand for imported glove materials. The total import volume in H1, 2023 dropped significantly Y-O-Y mainly due to weak China’s domestic demand. General materials downstream industries underperformed, while glove product enterprises held operating rates low. For imported resources, several producers engaged in bargain-hunting, while most producers purchased on a need-to basis.
From the perspective of import trading partners, the top three PVC paste resin import trading partners in June were Thailand, Taiwan and South Korea, and the import volume from these countries accounted for 75.92% of total imports. In the first half of the year, the top three PVC paste import trading partners were Taiwan, Thailand and Germany, accounting for 70.1% of the total imports in H1, 2023.
According to GACC, the export volume of PVC paste was 13,035.98mt, down 1.03% M-O-M but up 29.81% Y-O-Y. The average export price was $1,031.16/mt, down 7.96% M-O-M. The cumulative export volume from January to June was 77,590.43mt, up 65.71% year-on-year.
In June, China’s PVC paste exports fell slightly M-O-M but saw a notable increment Y-O-Y. In June, as China’s domestic PVC paste market supply was ample, some producers were active in promoting exports to ease their pressure. In June, the resources exported to a European country continued to decrease, but the volume still ranked first. According to the data released by GACC, the top three export partners of PVC paste in June were Russia, India and Pakistan, accounting for 65.26% of the total. In the first half of the year, the top three export partners of PVC paste were Russia, India and Pakistan, accounting for 75.35% of the total.
On the whole, in H1, 2023, China’s PVC paste import volume shrunk notably Y-O-Y, while its export volume moved up. The change in PVC paste fundamentals should be noticed. SCI reckons that the increment in PVC paste import volume will be limited, while the export volume will remain relatively high in H2, 2023.
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