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On October 19, data from the General Administration of Customs of China revealed that China's imports of plastics in primary forms totaled 1.82 million tonnes in September, a year-on-year decrease of 15.4%.
The 15.4% year-on-year decline in imports of plastics in primary forms has led to a contraction in supply, easing overall supply pressure in the domestic PVC market. This provides bullish support to spot prices, while the futures market—bolstered by this supply-side tightening—is likely to maintain a firm direction.
The sharp year-on-year drop in imports of plastics in primary forms has tightened supply, which is favorable to domestic PP spot prices; meanwhile, the futures market shows upward momentum, reinforced by these supply-side developments.
With imports of plastics in primary forms falling by 15.4% year-on-year, the reduction in incoming supply has eased pressure on the domestic PE market, providing bullish support to both spot and futures prices.
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