Affected by various factors, imports have decreased significantly, and exports have increased. China's three major synthetic materials have narrowed their foreign trade deficits.
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The import volume of synthetic resin has been significantly reduced Since this year, due to high international oil prices, the prices of polyolefins in the international market are still oscillating at high levels, resulting in significantly higher domestic polyolefin import costs. At the same time, domestic large-scale polyolefin installations newly built and rebuilt in recent years have been put into production successively. In particular, production capacities such as polypropylene and polyvinyl chloride have increased rapidly, which has weakened import demand.
In the first half of the year, China imported a total of 8.973 million tons of synthetic resin, a year-on-year decrease of 14.4%; however, the import amount increased by 11.7%. The import volume of the five general-purpose synthetic resins was 6.489 million tons, which was reduced from the 10.3% increase in the same period in 2004 to the decrease of 3.8%; the import amount increased by 18.2%. Except for high-density polyethylene and linear low-density polyethylene, the import volume of other synthetic resins fell significantly compared with the previous imports. In particular, the decline in products such as polystyrene and low-density polyethylene was above 15%. Affected by high oil prices, the prices of the five general-purpose synthetic resins, except polyvinyl chloride, have been operating at high levels, causing their average import unit prices to increase substantially compared with the same period in 2004, of which polyethylene and polypropylene rose by more than 20%. As China's PVC production is mainly using calcium carbide method, in recent years increased production faster, and less affected by oil prices, so the import volume and import unit price with other types of synthetic resin showing different trends and characteristics.
At the same time as imports fell sharply, due to price incentives and increased production capacity, exports of major categories of resin products that had not previously been large have increased. In the first half of the year, the export volume of the five general-purpose synthetic resins was 129,000 tons, an increase of 53,000 tons over the same period of the previous year. However, due to the increase in the output and exports of domestic household appliances and IT products, the demand for polypropylene and ABS remained strong. At the same time, there is still a certain gap in the supply and demand of some special-purpose resins with high added value in China.
Synthetic fiber imports fell sharply During the first half of the year, the textile industry’s output and exports continued to maintain steady growth. However, due to the impact of rising international raw material prices, European and U.S. restrictions on textile trade in China, and the availability of domestic cotton, the demand for domestic synthetic fibers has grown modestly. In the first half of the year, imports of synthetic fibers decreased, while imports of synthetic fiber materials increased. The increase decreased.
In the first half of the year, imports of synthetic fibres decreased significantly under the condition that domestic synthetic fiber output increased by 5.3% and apparent consumption increased slightly. A total of 712,000 tons of synthetic fibres were imported, a decrease of 19% over the same period of the previous year. On the basis of an increase in the unit price of imports by 23.4%, the import amount decreased slightly. Filament filaments were imported 278,000 tons, a decrease of 22.3%; staple fiber imports were 443,000 tons, a decrease of 16.8%. The difference from the past is that except for polypropylene, the import volume of nylon, polyester, acrylic staple fiber, and spandex filament has generally declined. Of the imported synthetic fiber products, polyester still dominated, although its share of total imports decreased by 6.3 percentage points from the same period of last year, it still reached 46.1%. Polyester became the largest drop in imports of synthetic fiber products in the first half of the year, with a total import of 328,000 tons, a decrease of 28.8%. The decrease in imports was mainly due to the increase in domestic supply of polyester products in recent years and the increase in import costs in the first half of the year. In addition, the domestic demand for products such as nylon and acrylic staple fiber was higher than that of production, which led to an increase in imports. In the first half of the year, the proportion of imports of these two products increased by 0.9 and 5 percentage points from the same period last year.
At the same time, exports of synthetic fibers have increased. In the first half of the year, a total of 276,000 tons of synthetic fiber was exported, an increase of 111,000 tons. Among them, synthetic filaments and staple fibers were increased by 69,000 tons and 42,000 tons, respectively. The share of exports in synthetic fiber production rose to 3.7% over the same period. Among the synthetic fiber products, the export volume of polyester and nylon increased rapidly, which was 153,000 tons and 37,000 tons respectively, an increase of 39,000 tons and 13,000 tons from the same period of last year. Among them, the export of nylon filament increased by 12,000 tons, and the export of polyester staple fiber increased by 39,000 tons.
The import volume of synthetic rubber hit a record low in the same period in the first half of the year. In the first half of the year, the development of the automotive industry in China slowed down, and the tire and rubber products industry suffered a trade friction event, which had a certain impact on the supply and demand of downstream synthetic rubber. In the first half of the year, the growth rate of synthetic rubber production in China was 7.7%, which was 14% lower than the first half of 2004. During the same period, a total of 520,000 tons of synthetic rubber was imported, a year-on-year decrease of 6.5%, which was the lowest level in the same period of the previous year, but the degree of foreign dependence remained at around 40%.
Driven by the rise in international oil prices, the price of synthetic rubber has risen and has been operating at a high level, further affecting the current import volume and import costs. In the first half of the year, the import amount of synthetic rubber was 840 million U.S. dollars, an increase of 24.1% year-on-year; the average unit price of imports rose by 32.7%. As the largest importer of synthetic rubber, the import volume of styrene-butadiene rubber decreased by 15.1% in the first half of the year, but the import amount and average import price rose by 11.3% and 31.1% respectively. Due to the rising prices of raw material butadiene and the tight supply, the operating rate of domestic butadiene rubber production facilities has decreased, and production has decreased compared to the same period last year. Therefore, although at a high price level, the import volume decreased less. The increase in the import amount and the average import unit price were all above 30%. Other varieties such as butyl rubber, neoprene, acrylonitrile-butadiene rubber and ethylene propylene rubber have long been dependent on imports due to limited domestic supply. As a result, imports have continued to increase, but the growth rate has decreased considerably compared to the same period in 2004. In the first half of the year, net imports of synthetic rubber were 473,000 tons, which was a decrease of 7.1% from the same period of last year, and net imports increased by 22%.
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