PE comprehensive supply continues to rise, inventory tends to be neutral
2023/8/1
In terms of imports, the supply of overseas polyethylene is sufficient but the demand is relatively weak. At present, international resources are still making more offers to China. It is expected that China's PE imports will remain high in the third quarter. Affected by the news and structurally tight supply in July, China's PE market went up, the arbitrage window for internal and external markets continued to expand, and international suppliers such as the United States increased their offers to China. It is expected that PE imports will remain high in the near future. On the whole, the import volume of PE from July to September may be higher than that of the same period last year.
Regarding the supply of recycled PE, as the price of new materials rises, the enthusiasm of recycled PE enterprises to process has increased, and the supply is expected to increase slightly in July. From August to September, with the gradual recovery of seasonal demand, the supply of recycled PE continued to increase. On a year-on-year basis, the supply of recycled PE in July-August may be higher than the same period last year, while the increase in comprehensive supply in September still needs attention.
In June, the output of PE plastic products in China was 6.66 million tons, a year-on-year increase of 4.0%. From January to June, China's cumulative output of plastic products was 35.363 million tons, a year-on-year decrease of 0.7%. Following the slight year-on-year increase in China's comprehensive output of plastic products in April, the output of products in June increased significantly year-on-year. In June, the country continued to adjust policies and released signals of steady growth. The output of plastic products increased significantly. In the future, it is necessary to continue to pay attention to whether the policy can continue to exert force .
In terms of exports, China exported 228.72 tons of plastic products in June 2023, an increase of 1.61% month-on-month and a year-on-year decrease of 2.21%. From January to June, China's plastic product exports were 12.4198 million tons, a year-on-year decrease of 4.25%. In terms of breakdown, China's PE shopping bag products exported a total of 536,500 tons from January to June, a year-on-year decrease of 3.93%. In June, China's PE shopping bag products exported 96,500 tons, a year-on-year decrease of 1.59%. On the whole, the year-on-year growth of China's plastic product exports from March to April 2023 has turned from negative to positive. However, the vulnerability of the global economy has not been effectively resolved, and some overseas economies are still expected to decline. The export volume of plastic products fell again in May to June. .
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