January and February China NR Imports Up 5.01%
China’s Lunar New Year holiday started in late January, and Wuhan became the epicenter of the public health emergency in February. How was the NR import market faring in those two months since NR is the product heavily depending on the import trade? Here comes the detailed analysis.
1. China’s Monthly NR imports
In January and February, China’s total NR import volume (10 HS codes) was 840.2kt, up 5.01%. To be specific, the import volume of NR latex in January and February was 58kt, down 21.58% Y-O-Y. The import volume of RSS was 23.3kt, up 0.43% Y-O-Y. The import volume of standard rubber was 223.1kt, up 21.58% Y-O-Y. The import volume of compound rubber was 8.9kt, down 34.07% Y-O-Y. The import volume of mixed rubber was 526.9kt, up 4.17% Y-O-Y.
2. Imports of Different Rubber Species
In the first two months of 2020, China’s RSS import volume reached 23.3kt, up 0.43% Y-O-Y, and the average import price was $1,546.31/mt. Among them, Thailand’s RSS3 import volume accounted for 74.21% of the total, while 12.77% from Vietnam and 6.72% from Indonesia.
In January and February, the standard rubber import volume reached 223.1kt, up 21.58% Y-O-Y, and the average import price was $1,441.92/mt. The imports from Thailand accounted for 54.55% of the total, while Malaysia 20.75% and Indonesia 11.87%.
In January and February, the mixed rubber import volume reached 526.9kt, up 4.17% Y-O-Y, with the average import price of $1,435.16/mt. The mixed rubber imports from Thailand accounted for 51% of the total, while 31.47% from Vietnam and 13.11% from Malaysia.
Although the health emergency has been well and effectively contained in China, the situations have become even more aggravated and worrying worldwide. Factories in France, Italy, Spain, the U.S. and Mexico were shut down to deal with the emergency. Meanwhile, some countries have closed or strictly restrained their borders. All this poses great risks to China’s tire export trade, which has heavily impacted the rubber imports. After Malaysian authorities decided to close the Penang Port, it only longer received and transported goods from Thailand via this port. As a result, goods from South Thailand, Satun and Trand can’t be shipped. It’s expected that NR import volume will drop in March.
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