Polyethylene Prices in China

China Polyethylene Import Price in September 2022

In September 2022, the polyethylene price stood at $1,060 per ton (CIF, China), dropping by -4.5% against the previous month. In general, the import price showed a slight descent. The growth pace was the most rapid in April 2022 when the average import price increased by 4.8% m-o-m. Over the period under review, average import prices attained the maximum at $1,236 per ton in May 2022; however, from June 2022 to September 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In September 2022, the highest price was recorded for prices from Thailand ($1,165 per ton) and South Korea ($1,157 per ton), while the price for Russia ($932 per ton) and Iran ($965 per ton) were amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.9%), while the prices for the other major suppliers experienced a decline.

China Polyethylene Imports

In September 2022, the amount of polyethylene with a specific gravity of more then 0,94, in primary forms imported into China declined modestly to 548K tons, leveling off at the previous month. The total import volume increased at an average monthly rate of +1.0% over the period from January 2022 to September 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in August 2022 when imports increased by 24% against the previous month. Imports peaked at 615K tons in March 2022; however, from April 2022 to September 2022, imports remained at a lower figure.

In value terms, polyethylene imports contracted to $580M (IndexBox estimates) in September 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 when imports increased by 23% m-o-m. As a result, imports reached the peak of $723M. From April 2022 to September 2022, the growth of imports remained at a somewhat lower figure.

China Polyethylene Imports by Country

Saudi Arabia (110K tons), Iran (100K tons) and South Korea (92K tons) were the main suppliers of polyethylene imports to China, with a combined 55% share of total imports. The United Arab Emirates, Russia, Kuwait, Qatar, the United States, Taiwan (Chinese), Oman, Thailand and Japan lagged somewhat behind, together accounting for a further 40%.

From January 2022 to September 2022, the biggest increases were in Oman (with a CAGR of +30.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($115M), South Korea ($107M) and Iran ($97M) constituted the largest polyethylene suppliers to China, together comprising 55% of total imports. The United Arab Emirates, Russia, the United States, Kuwait, Qatar, Taiwan (Chinese), Thailand, Oman and Japan lagged somewhat behind, together accounting for a further 39%.

Oman, with a CAGR of +28.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.