China's September 2023 Import of Flat Glass Decreases to $240M

China Flat Glass Imports

In September 2023, supplies from abroad of flat glass decreased by -5.7% to 19M square meters, falling for the second month in a row after two months of growth. In general, imports continue to indicate a mild slump. The most prominent rate of growth was recorded in March 2023 with an increase of 27% against the previous month. As a result, imports attained the peak of 28M square meters. From April 2023 to September 2023, the growth of imports failed to regain momentum.

In value terms, flat glass imports fell significantly to $240M (IndexBox estimates) in September 2023. Overall, imports saw a slight slump. The pace of growth appeared the most rapid in March 2023 when imports increased by 32% m-o-m. Over the period under review, imports hit record highs at 305M square meters in August 2023, and then shrank significantly in the following month.

Imports by Country

In September 2023, South Korea (9.4M square meters) constituted the largest flat glass supplier to China, with a 50% share of total imports. Moreover, flat glass imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (3.2M square meters), threefold. The third position in this ranking was held by Thailand (1.5M square meters), with a 7.7% share.

From September 2022 to September 2023, the average monthly growth rate of volume from South Korea stood at -1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (-3.2% per month) and Thailand (+2.8% per month).

In value terms, South Korea ($134M) constituted the largest supplier of flat glass to China, comprising 56% of total imports. The second position in the ranking was taken by Japan ($28M), with an 11% share of total imports. It was followed by the United States, with a 6.5% share.

From September 2022 to September 2023, the average monthly growth rate of value from South Korea totaled -1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (-2.5% per month) and the United States (-7.1% per month).

Imports by Type

Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground (8.8M square meters), drawn and blown glass, in sheets, other than glass coloured throughout the mass (body tinted), opacified, flashed or having an absorbent or reflecting layer (7.3M square meters) and cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (2.7M square meters) were the main products of flat glass imports to China, with a combined 100% share of total imports. Cast glass and rolled glass, non-wired sheets, coloured through the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer, float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass), drawn and blown glass, in sheets, coloured throughout the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, but not otherwise worked and cast glass and rolled glass, profiles, not otherwise worked lagged somewhat behind, together comprising a further 0.4%.

From September 2022 to September 2023, the biggest increases were in drawn and blown glass, in sheets, coloured throughout the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (with a CAGR of +78.0%), while purchases for the other products experienced more modest paces of growth.

In value terms, the most traded types of flat glass in China were drawn and blown glass, in sheets, other than glass coloured throughout the mass (body tinted), opacified, flashed or having an absorbent or reflecting layer ($109M), cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer ($75M) and float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground ($45M), with a combined 95% share of total imports. Cast glass and rolled glass, non-wired sheets, coloured through the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, drawn and blown glass, in sheets, coloured throughout the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, but not otherwise worked, float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer, float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) and cast glass and rolled glass, profiles, not otherwise worked lagged somewhat behind, together accounting for a further 4.7%.

Import Prices by Country

In September 2023, the flat glass price stood at $12.7 per square meter (CIF, China), falling by -16.3% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 an increase of 39% month-to-month. As a result, import price attained the peak level of $15,187 per thousand square meters, and then shrank dramatically in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($82.6 per square meter), while the price for Thailand ($2.5 per square meter) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform