The main reason for the increase in the import volume of petroleum resin is that after the weather and temperature rise, various infrastructure projects in China have resumed operation, and the terminal market has also started production. With the improvement of demand, the demand for hydrogenated petroleum resin resources has correspondingly increased, which has driven a significant increase in the import volume of petroleum resin compared to February. The main reason for the year-on-year decrease is the slow development of the national economy in 2016. Under the policy of reducing inventory and production capacity, the enthusiasm for terminal production was weaker than last year, and the demand for petroleum resin resources also decreased accordingly. As shown in the figure below, the top three countries in terms of import volume by source country in March were South Korea, Japan, and Taiwan, accounting for 65% of the total import volume in March.
The main reason for the increase in export volume of petroleum resin is that as the weather and temperature rise, the terminal demand side gradually opens up, and the demand for petroleum resin resources correspondingly increases. This is beneficial, and the operating rate of petroleum resin increases within the month, resulting in a corresponding increase in overall resource supply. Therefore, the export volume also increases accordingly; 2、 In 2016, the national economy developed smoothly, and under the influence of domestic policies to reduce inventory and production capacity, the demand for petroleum resin resources in the market correspondingly decreased. Therefore, manufacturers often reduce export pressure through export channels.
With the gradual improvement of terminal demand, the market demand for hydrogenated petroleum resin resources is gradually returning to normal. Due to limited domestic demand for high-end petroleum resin resources, it is expected that the import volume of hydrogenated petroleum resin resources will not change much in April; In terms of exports, with the improvement of terminal demand, the market's demand for petroleum resin resources is gradually recovering. However, under the domestic policy of reducing production capacity, the market's demand for petroleum resin resources is mainly based on rigid demand. Therefore, manufacturers will ease sales pressure through exports. Therefore, it is expected that the export volume of petroleum resin will continue to increase in April.
