October PE Import Analysis
In October 2021, China’s PE import volume was about 1,064.5kt, down 11.6% from last month and down 38.22% from last year. Based on the data from GACC, SCI will review the change in the import market in October and forecast the import in November.
In October 2021, China’s PE import volume was about 1,064.5kt, down 11.6% from last month and down 38.22% from last year. The cumulative import volume of PE from January to October totaled 12,326.1kt, down 20.26% from last year. Compared with September, the import volume continued to drop in October. It is predicted that the import volume will rebound in November. Considering the delay of shipments, it is predicted the import volume will rise to 1,200-1,250kt.
As for the main origin, the import volume from the Middle East saw obvious changes. The supply from the U.A.E was stable, which was around 169.1kt, up 7.2kt or 4.46% from last month, ranking first. The units in Saudi Arabia and the Middle Eastern country ran at a reduced operating rate due to the shortage of natural gas, so the import volume shrank notably. The import volume from Saudi Arabia was 168.2kt, down 20.32% from last month. The import volume from the Middle Eastern country was 154kt, down 23.09% from last month. As 1,300kt/a new capacity was put into use, South Korea increased its supply volume to China. The import volume was about 145.7kt in October, up 12.05% from last month.
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