Short term imports of recycled rubber from Southeast Asia will continue to grow
2023/12/29
The average import price will reach the lowest point of the year, and the import volume will continue to increase
Except for January, the import volume of recycled rubber increased year-on-year from February to November in 2023. From January to November 2023, the cumulative import volume was 157297.78 tons, an increase of 22.70% compared to the same period last year. In the fourth quarter, the monthly import volume of recycled rubber continued to increase, and the relatively low import price of recycled rubber stimulated the growth of import volume. In November, the import of recycled rubber reached 17500.21 tons, an increase of 5.45% month on month and 28.47% year-on-year. Based on the average import price, the monthly average import price of recycled rubber in November fell again, reaching the lowest level of the year. The average import price was 588.11 US dollars per ton, a month on month decrease of 4.30% and a year-on-year decrease of 7.12%. The increase in production costs of domestic recycled rubber has led to a weakening of its advantages and promoted an increase in the import volume of low-cost recycled rubber.
The average export price in November increased month on month, and the export volume decreased accordingly
From January to November 2023, the cumulative export of recycled rubber was 72800.94 tons, a decrease of 12.03% compared to the same period last year, indicating poor performance in the export market of recycled rubber. In November, the export of recycled rubber reached 5944.79 tons, a year-on-year decrease of 6.60%, which is the lowest monthly export volume so far except for February. Based on the average export price, the average export price of recycled rubber in November was 953.19 US dollars/ton, an increase of 4.81% month on month and a decrease of 10.09% year-on-year. In November, the export price of recycled rubber increased month on month, leading to a decrease in export volume. Due to the increase in production costs of recycled rubber in China and the weak price advantage, the export volume has been affected to a certain extent.
Imports mainly come from Southeast Asia, and South Korea is the main exporting country
From the perspective of import sources, from January to November 2023, China's import trade partners for recycled rubber were mainly concentrated in Southeast Asia, with a small amount coming from South Korea and Japan. The largest import source country among them is Thailand, with a total import volume of 76574.67 tons in the first 11 months, accounting for 48.68%, and an average import price of 570.15 US dollars per ton. Next are Malaysia and India. From January to November, 25328.39 tons of recycled rubber were imported from Malaysia, accounting for 16.10% of the total import volume, with an average import price of 607.31 US dollars per ton. Ranked third is India, which imported 23224.40 tons of recycled rubber from January to November, accounting for 14.76% of the total import volume, with an average import price of 793.61 US dollars per ton. The first three main import source countries account for 79.54% of the import volume, so China's imports of recycled rubber are concentrated in Southeast Asia.
From the perspective of export trade partners, China has many export trade partners for recycled rubber in primary shapes, plates, sheets, and belts, but the export proportion of each trade partner is very small. The largest trading partner in the export volume of recycled rubber from January to November 2023 is still South Korea, but the export volume only accounts for 15.39%.
From January to November 2023, the countries with the highest export quantity of recycled rubber in primary shape, board, sheet, and strip in China are South Korea, Thailand, and the United States. Among them, South Korea ranked first, with an export volume of 11200.57 tons of recycled rubber from January to November, a year-on-year decrease of 10.73%, accounting for 15.39% of the total export volume. The average export price was $818.14 per ton, a year-on-year decrease of 2.05%; Next is Thailand, where the export volume of recycled rubber from January to November was 5444.71 tons, a year-on-year increase of 21.21%, accounting for 7.48% of the total export volume. The average export price was 747.44 US dollars/ton, a year-on-year decrease of 1.96%; Ranked third is the United States, which exported 3990.49 tons of recycled rubber from January to November, a year-on-year decrease of 38.69%, accounting for 7.55% of the total export volume. The average export price was $1219.71 per ton, a year-on-year decrease of 10.57%.
Recycled rubber is exported to a wide range of countries and regions. However, with the increase in production costs of recycled rubber and the increase in export prices of recycled rubber, China's export advantage gradually diminishes. In addition, the recycled rubber process in Southeast Asia is gradually maturing, with significant production cost advantages and product price advantages. In the short term, imports of recycled rubber from Southeast Asia may maintain a certain level of growth, while export growth may be limited.
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