China Petroleum Resin Export Increases in 2017

With China’s petroleum resin units keeping expanding and international demand improving, the export volume of China’ petroleum resin rose in 2017 for the seventh straight year. The export volume in 2010 stood at 81.9kt. The export volume in January-October 2017 recorded at 150kt, and the total export volume in 2017 was predicted to reach 184.9kt. The followings were some changes in January to October 2017 compared with January to October 2010.

In terms of export destinations, the proportion of the export to Indonesia and South Korea declined in January-October 2017, while that to India, the U.S. and Thailand inched up compared with January-October 2010.

In terms of export customs, Qingdao ranked first in both 2010 and 2017. The export volume via Qingdao reached 70.1kt in January-October 2017, up 80% from January-October 2010. The export volume via Ningbo soared to 38.3kt in January-October 2017, as large resin producers, such as Zhejiang Henghe Material and Ningbo Jinhai Chenguang successively put their units into operation.

In terms of trade mode, the major trade mode in 2010 and 2017 was “general trade”. The proportion of “general trade” in January-October 2017 inched down compared with the same period of 2010, while the export volume in January-October 2017 rose by 77.65% compared with the same period of 2010. By comparison, the proportion of “processing and assembling trade provided with raw materials” went up.