The overall import volume decreased slightly, and the supply was relatively stable.

Sep 06, 2023

According to the China Customs, China's total PE imports from January to June 2023 amounted to 6.3243 million tons, a slight decrease of 3.7% year-on-year. The decline in import is mainly due to the intensive startup of new plants and imported materials had been squeezed. As a result, the market has gradually softened, leading to decreased cost pressures for traders. Despite the low-price procurement sentiments, the competitiveness of imported materials is not as strong as in previous years. For suppliers, the imported PE market lacked advantages. Moreover, China domestic price was weak, which was a significant factor contributing to the overall decrease in imports.

Imported PE market had been supported by the strong RMB futures-spot market and appreciated RMB
The impact of the RMB exchange rate on the imported PE market continues and the influence has expanded

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