Published On: Wed, Nov 26th, 2014

Singapore raises its share in China’s imports, overtakes Iran

According to the import statistics revealed by Chinese Customs, overall October polymer imports into China slumped by 8.3% month over month while cumulative imports for the first 10 months lagged slightly behind the same period of 2013, indicating a yearly decrease of 3.3% as per ChemOrbis.

When looking at the January-October period, China’s list of top 3 suppliers did not show any change from last year with South Korea, Saudi Arabia and Taiwan maintaining their respective positions. Overall imports from South Korea displayed a 6% yearly drop in the first 10 months and Taiwan posted a larger market loss of 12% in the same timeframe while Saudi Arabia’s overall exports to China were up by 5.2% when compared to the same period of last year.

plastic polymer industry

Singapore raises its share in China’s imports, overtakes Iran

Singapore, meanwhile, raised its share in China’s imports by 37% in the first 10 months, moving up to be China’s fourth largest supplier from last year’s fifth. Overall imports from Iran were also up by 15% in January-October but Iran became the fifth largest supplier this year, losing its position to Singapore.

On a product basis, LLDPE recorded the largest decrease in October as imports slumped by 34% month over month. Singapore maintained its position as the top LLDPE exporter to China, almost doubling its share in imports in the January-October period when compared to the same period of last year. PVC followed LLDPE with imports declining 9% month over month while the overall yearly decrease was much sharper at 27%. China’s top PVC supplier continued to be the US although imports from this country were also down by 7% in the first 10 months.

Imports for homo-PP also retreated by 8.8% on a monthly basis and by around 7.8% on a yearly basis in October. The top exporter to China was South Korea, followed by Saudi Arabia and Singapore. Homo PP imports from South Korea did not show a major change in the first 10 months when compared to the same period of 2013 while Saudi Arabia and Singapore raised their market share respectively by 5.4% and 39%.

China’s LDPE imports posted a monthly decrease of 7% in October whereas they were up around 38% on the year. The top LDPE supplier was Iran, followed by South Korea. HDPE was the single product where an increase was seen on a monthly basis at 4.5%. Iran’s HDPE imports to China indicated an approximate increase of 6% in the first 10 months with the country continuing to be ranked as the top HDPE supplier.

According to ChemOrbis, as for PS, October imports were slightly down by 0.4% month over month while the yearly decline was more significant at 35%. Although Taiwan retained its position to be the largest supplier, it lost market share of around 33% in the first 10 months.