Data from ChemOrbis Import Statistics shows that China's cumulative PE imports in the first quarter of 2022 increased by 7.3% year-on-year, reaching around 3.5 million tonnes. The Q4 2021 volume shows the lowest quarterly figure in import statistics since the last quarter of 2017.

HDPE contributes the most to Q1 results

China's total HDPE imports in the first quarter were 1,628,970 tons, of which Saudi Arabia (377,329 tons) remained the top supplier.

HDPE was followed by LLDPE imports with 1,162,877 tons in the first three months of 2022. Saudi Arabia was again the most preferred destination for HDPE imports with 285,428 tons.

LDPE ranks third with 778,308 tons, of which Iran (778,308 tons) is the main supplier.

Q2 results may reverse due to new challenges related to Covid-19

Since the end of March 2022, China has really worked hard to contain the latest Covid-19 outbreak, with a broader ban on movement and lockdown measures being imposed in central areas. Major financial centers include Shanghai. The capital Beijing has also recently stepped up restrictive measures as the growing number of infections in the region has raised fears of a Shanghai-like blockade.

Due to the “blockades and congestion” caused by the impact of these measures, the recovery in Q1 is not likely to extend into Q2.