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China's butyl rubber imports hit record high in 2020

2022-03-29

In 2020, China's butyl rubber import volume reached 284000 tons, a record high. Among them, the import volume of ordinary butyl rubber was 116500 tons, an increase of 38.36 over the same period of last year, and the import volume of halogenated butyl rubber was 167500 tons, an increase of 2.20. Since the implementation of anti-dumping on imported halogenated butyl rubber in 2018, China's butyl rubber imports have declined to a certain extent, but imports will increase again in 2020, mainly due to the following two reasons:
First, the import volume of ordinary butyl rubber has increased significantly, especially the import volume of ordinary butyl rubber from Russia and India has increased significantly. In 2020, the import volume of ordinary butyl rubber imported from Russia and India was 82200 tons, accounting for 54.91 of the domestic consumption of ordinary butyl rubber. Russian sources of goods entered the Chinese market earlier, with high market recognition, and affected by global public health events, poor demand in the European and American markets, manufacturers sold more goods to China, and prices fell to historical lows, and domestic businesses entered the market one after another. Copy the bottom, domestic supply has increased significantly. Indian goods have flowed into the Chinese market since October 2019, and imports continue to increase in 2020, making it the third largest source of ordinary butyl rubber.
Second, non-anti-dumping areas of halogenated butyl rubber imports increased. In August 2018, the Ministry of Commerce issued an announcement to increase anti-dumping duties on imports of halogenated butyl rubber originating in the United States, the European Union and Singapore. Subsequently, the amount of imported halogenated butyl rubber from the region decreased significantly. But at the same time, imports of halogenated butyl rubber from Saudi Arabia, Canada and Russia began to increase. Imports of halogenated butyl rubber in 2020 decreased by only 10.24 per cent compared to 2018, with a limited decline.
In terms of import source countries, the top three sources of China's butyl rubber imports in 2020 are Russia, Saudi Arabia and Singapore. Compared to 2019, the decrease in Canadian imports was more pronounced, mainly due to the unstable operation of Canadian plant installations in January-May and a significant reduction in market supply. Russia's import volume still ranks first, and its share has further increased compared with last year. This is related to its geographical location and price advantage. The share of Russian ordinary butyl rubber in the domestic market has further increased.
At present, with the increase in the price of imported butyl rubber, the enthusiasm of importers to import has declined. With the further release of domestic production capacity, the self-sufficiency rate of butyl rubber in China will gradually increase, and the degree of dependence on imports will show a downward trend. China's butyl rubber imports are expected to decline in 2021.

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