China's factories, power plants and farms are under enormous pressure from the rising cost of raw materials, while the Chinese people's pockets have not been affected too much.
According to data from Statistical Instrumentation, China's total homo PP imports for the January-April 2022 period show the lowest figure since 2008.
The domestic PP and PE markets in Southeast Asia have been going downhill over the past two months, driven by persistently weak demand, although a stronger US dollar continues to detract from the competitiveness of imports into the region.
Due to China's change in imports of Polyolefins, a sharp decline since mid-March. This price drop is attributed to limited demand due to off-season, lower Dalian futures prices, and pressure from domestic price downward trend affecting PP and PE prices, there is a risk of a decrease this June.
Rising costs encouraged European PS sellers to announce fresh hikes early in May. Having emerged €50-90/ton above April levels, PS prices hit fresh record highs but the upturn has lost speed. While smaller increases of around €50-60/ton have passed on deals so far, some sellers have started to report even rollovers in a few ...
Traders say the dollar's surge against global currencies has made imported PP and PE less competitive against domestically sold products across China, Southeast Asia and India. because of increased import costs.
After closing June deals with a triple-digit drop, European PP and PE market participants are bracing for deeper price drops next month due to ample supply and weak demand. Monomers are also forecast to decline due to the widening spread between spot and contract prices.
Chemistry professor Takuzo Aida and colleagues used a substance called polyether thiourea to create a plastic material that can self-heal if the fragments are put together at room temperature.
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.